Articles Tagged with ''FHFA''

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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Freddie Mac CEO: Our innovations help lenders help borrowers

On the investment side of mortgage finance, there is plenty of change afoot
Much has changed, Freddie Mac CEO Donald Layton admits, on the mortgage lending front. "Life is very different now," than when he took over 6 years ago, he said. "Our innovations are aimed at our 'customers'… and that’s lenders and ultimately that’s help for borrowers."
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Monday Morning Cup of Coffee: Reuters publishes hit piece on Invitation Homes

Plus a $1 billion listing, dwindling numbers of homeowners in the City of Angels and more
Alright, alright, alright. It’s that time again. Monday is upon us and we’re serving up another round of Monday Morning Cup of Coffee. There’s drama in the single-family rental market after Reuters dropped a bombshell report on the largest single-family home landlord in the nation, Invitation Homes, detailing numerous allegations of neglect and sketchy business practices.
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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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