Items Tagged with 'GSEs'

ARTICLES

  • Cloudvirga partners with Freddie Mac to provide one-click dual AUS submissions

    Industry's first single-click, dual-AUS submission of loan data
    Digital mortgage point-of-sale software provider Cloudvirga announced Thursday it has launched single-click submission of loan data to both GSEs’ automated underwriting systems in a new collaboration with Freddie Mac. “We’re empowering loan officers and back-office teams with data and augmented intelligence and making it effortless to deliver the best possible borrower experience while maximizing loan performance in the secondary market,” Cloudvirga Co-founder Kyle Kamrooz said.
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  • FHFA: Here are 10 things the GSEs did to improve access to credit in 2017

    Agency releases annual scorecard on Fannie, Freddie
    The Federal Housing Finance Agency released its annual progress report summarizing the activities of the GSEs in 2017. Objectives in the 2017 scorecard required the enterprises to continue to assess opportunities to address credit access and develop recommendations for improvement, improve the effectiveness of pre-purchase counseling and homeownership education. Here’s what they did.
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  • Freddie Mac reports $3.3 billion loss in Q4

    Will request draw from Treasury to cover loss
    Freddie Mac, while reporting a profit for the full year in 2017, posted a more than $3 billion loss in the fourth quarter. The fourth quarter’s net income posted a loss of $2.9 billion, and comprehensive income showed a loss of $3.3 billion. Here’s why, and what happens next.
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  • Fannie Mae needs billions from Treasury for the first time since 2012. What happened?

    Credit the Republican tax plan, and much more
    If you’ve been playing close attention, you knew this day was coming, but that doesn’t make it any less shocking. Fannie Mae needs money from the government for the first time since 2012. So, how did we get here? The easy answer is to blame the Republican tax plan, and in many ways, that’s correct… but it’s far more complicated than that.
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  • Trump budget proposes to reduce deficit by raising g-fees

    Extends increase to 2023
    President Donald Trump released his 2019 budget proposal which suggests taking revenue from Fannie Mae and Freddie Mac to lower the deficit. The spending plan released Monday asks Congress to raise the fees the mortgage guarantors charge to back payments on mortgage-backed securities.
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  • Wells Fargo: Here’s the impact of HARP extension, GSEs’ new high-LTV refi program

    Eligibility rules of refi program will limit scope
    After several delays, the government’s crisis-era Home Affordable Refinance Program was finally set to expire next month, until the Federal Housing Finance Agency announced Thursday that it’s extending the HARP deadline until the end of 2018. So what’s the impact of the change? Not much, unless there’s another housing crisis, Wells Fargo said in a new report.
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  • FHFA: HARP extended through 2018

    Refinance program previously set to end next month
    The government’s Home Affordable Refinance Program was all set to end next month, September 30, to be exact, but that’s not the case anymore. The Federal Housing Finance Agency announced Thursday that it is extending HARP through Dec. 31, 2018, adding an additional 15 months onto the program’s already extended lifespan.
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  • Fannie, Freddie fail Dodd-Frank severe stress test

    Would need nearly $100 billion bailout in economic adversity
    The Federal Housing Finance Agency released the latest results for Fannie Mae and Freddie Mac’s stress test. The results showed the GSEs would need a combined total of nearly $100 billion to bail them out in the case of a severe economic crisis.
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