The Federal Housing Finance Agency is directing Fannie Mae and Freddie Mac to restrict forced-placed insurance practices, which is a follow up from a notice the agency published in March regarding its views on such practices.
"I think it reinforces the current nature of mortgage finance policy, which is not to hold borrowers responsible. This isn’t just about Freddie, but it’s also about these borrowers sticking it to the taxpayer," Mark Calabria of the Cato Institute said.
Policymakers are contemplating a reduction in the maximum size of home loans that Fannie Mae and Freddie Mac are allowed to acquire, hoping this change will reduce the government’s dominant footprint in the mortgage market.
Housing is a strong catalyst for current economic growth, prompting mortgage experts to urge policymakers about the need for comprehensive housing finance reform this fall. But other fiscal headwinds and policy considerations could take precedence, delaying the housing fix once again.
In what was the most competitive awards program to date, HousingWire is proud to recognize the professional accomplishments of 30 women -- spanning every sector of the U.S. housing economy. Read the stories of our 2014 honorees, and be inspired..
If fair housing bluster were an Olympic event, the podium would be crowded with politicians and corporate mouthpieces. The injustice that once provoked marches and protests now evokes photo-ops and press releases. But have things truly changed? Read More
The sweeping CFPB TILA-RESPA integrated disclosures roll-out will affect almost every residential mortgage loan application that is submitted to a creditor on or after this date. Here, industry expert Jerry Halbrook dives into a breakdown of the wide-ranging impact of the new rule. Read More