Items Tagged with 'FHFA'

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FHFA: Deceleration in home prices short-lived

Some state increases top 10%
Home prices picked up speed in the third quarter, showing that the slow down seen earlier this year was temporary. Home prices increased even as much as 10% in several states. An economist from the Federal Housing Finance Agency explains the significant home price increase.
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There’s less than 1 year left for more than 200,000 HARP eligible borrowers

Rates only project to increase
The deadline, while it has constantly moved, is quickly approaching for struggling borrowers to take advantage of the government’s Home Affordable Refinance Program. The Federal Housing Finance Agency is working extra hard to make sure it reaches every eligible borrower before the Sept. 30, 2017 deadline. This is the latest update on the program’s performance.
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Community lenders renew call to allow Fannie Mae, Freddie Mac to rebuild capital

GSEs reported combined net income of more than $5 billion in 3rd quarter
In the wake of both of the government-sponsored enterprises reporting multi-billion dollar profits in the third quarter, the Community Home Lenders Association is renewing its call to allow Freddie Mac and Fannie Mae to rebuild capital, saying an additional draw from the Treasury could lead to a restriction of mortgage credit availablity.
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Why we should quit wasting money on consumer education

Here are 3 better ideas for the $128 million in the CFPB's civil penalty fund
In the first part of September, the CFPB collected $100 million from Wells Fargo after it was revealed that the bank’s employees had opened 2 million fake accounts that customers didn’t know about. By law, the CFPB has only two ways to spend that money: compensating victims harmed by financial institutions and educating consumers. If you have hundreds of millions of dollars that can only be spent on consumer education, it’s easy to imagine how that goal could take on a life of its own, spawning a bloated consumer education complex overnight. Here are some better ideas.
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Fannie Mae announces sweeping program for mortgage lender "freedom" from penalties

Using Fannie Mae tools for underwriting, appraisals shields lenders from buybacks
Fannie Mae announced that lenders using its Desktop Underwriter and Collateral Underwriter tools will be shielded from buyback risk from the GSE under certain conditions. Fannie Mae's "Day 1 Certainty" program helps lenders address risk up front in underwriting and property appraisal and inspection so that they can lend with confidence, Timothy Mayopoulos, president and CEO of Fannie Mae, said at the Mortgage Bankers Association conference. 
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FHFA pivots to affordable housing, single-family rentals

Renewed focus on those left behind in recovery
At the Mortgage Banking Association's annual conference, FHFA Director Mel Watt recounted a number of items the agency accomplished in the wake of the financial crisis before signaling the agency's focus for the next year: expanding affordable housing, including single-family rentals.
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Moody's: Bond investors will also benefit from FHFA HARP replacement

Refi replacement will bolster GSE risk-sharing deals
The Federal Housing Finance Agency shook up the mortgage world recently when it announced not only that it planned to extend the Home Affordable Refinance Program for nine additional months, but also that it planned to replace HARP with a new mortgage refinance program. A new report from Moody’s suggests that the new refinance program is also beneficial to the investors that buy up some of the credit risk tied to the mortgages.
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FHFA: Mortgage interest rates continued falling in July

Multiple indices show drop in interest rates
As readers of HousingWire well know, mortgage interest rates trended lower over the last few months, especially in the wake of the United Kingdom’s vote to leave the European Union. A new report from the Federal Housing Finance Agency provides more evidence of the decline in mortgage interest rates, as several indices reviewed by the FHFA show that mortgage rates fell in July.
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