Articles Tagged with ''Federal Housing Finance Agency''

HARP refis dwindling as homeowners gain equity

Loan-to-value ratios continue to shrink
The Home Affordable Refinance Program continues to shrink, making up just 1% of total refinance volume in the second quarter. And as the program grows closer to expiring at the end of this year, the FHFA shows there are still many borrowers eligible for a HARP refi.
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Fannie Mae CEO in hot water months before he steps down

Fannie Mae, FHFA come to Mayopoulos’ defense
Fannie Mae CEO Timothy Mayopoulos is once again in trouble for his romantic relationship, receiving yet another rebuke from a government watchdog. While the CEO did disclose his relationship and even recused himself from any connected business decisions, this government watchdog says he did not go far enough.
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FHFA caves to industry requests, extends comment period for proposed GSE capital rule

Interested parties given 2 extra months to review proposal
Back in June, the Federal Housing Finance Agency proposed a new rule on Fannie Mae and Freddie Mac’s capital requirements, opening the rule up for public comment. Now, after the FHFA said it received a high level of interest and several requests from stakeholders for more evaluation time, it is pushing back its comment period.
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FHFA watchdog faces investigation for misconduct

Accused of disparaging employees, attempting to intimidate witnesses
The top watchdog for the FHFA is facing investigation for misconduct after accusations surfaced that she purposefully weakened her office’s oversight. But her conduct surrounding her oversight of the government-sponsored enterprises isn’t the only thing being called into question – her interactions with employees are also under investigation.
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Politico: FHFA Director Mel Watt under investigation for alleged sexual misconduct

Watt claims leak of investigation documents is politically motivated
Friday, news broke that Federal Housing Finance Agency Director Mel Watt is under investigation for alleged sexual misconduct. According to an article from Politico, Watt is being accused by an FHFA staffer of repeatedly making inappropriate sexual advances when she tried to discuss career and salary concerns.
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FICO, VantageScore stand against FHFA’s delay of new credit score model

Brings confusion, disappointment to mortgage market
The FHFA announced Monday it is postponing its search for alternative credit scoring models, but both FICO and VantageScore expressed disappointment over the agency’s decision. And this delay may have created more questions than answers as credit scoring companies are left wondering: Who will really come out on top?
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FHFA: Home prices see slight increase in May

Increases in West South Central and Mountain division
Home prices increased slightly in May, rising only 0.2% from April, according to the latest House Price Index from the Federal Housing Finance Agency, demonstrating a continual slow down in home price gains.
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FHFA shelves search for new Fannie, Freddie credit score model

FICO wins… for now
FICO and its competitor, VantageScore, have been held in suspense to see which credit score model, if any, the FHFA will choose to use going forward. But now, the agency announced it is postponing its decision and will instead be shifting its focus to implementing the recently passed Economic Growth, Regulatory Relief and Consumer Protection Act.
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Court of Appeals declares FHFA structure unconstitutional

Majority opinion finds GSE regulator violates separation of powers
For the third time in recent memory, a government agency borne out of the housing crisis has been declared unconstitutional by a federal court. The first two times it was the Consumer Financial Protection Bureau. But now, it’s the Federal Housing Finance Agency that has been found to be operating in violation of the Constitution.
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