FHFA tells Fannie & Freddie to focus on housing affordability in 2022

The Federal Housing Finance Agency has put affordability at the top of its agenda in its annual to-do list for government-sponsored enterprises, Fannie Mae and Freddie Mac. In its 2022 Scorecard, the FHFA also called on Fannie and Freddie to update their pricing frameworks to boost support for “core mission borrowers”. The target is loan-level

Read More »

Home prices continue their rapid growth, up 18% year-over-year

Home prices in the U.S. jumped by 16% in April 2021 compared to April 2020, according to newly published data from the Federal Housing Finance Agency this week. Home prices also grew on a month-to-month basis, rising 1.8% from March to April, surpassing the 1.6% increase seen the previous month, the FHFA said. The agency

Read More »

President Biden to replace Mark Calabria as head of FHFA

Update: The Federal Housing Finance Agency announced late Wednesday that President Biden has appointed Sandra Thompson as the agency’s acting director. Thompson has served as the deputy director of the Division of Housing Mission and Goals (DHMG) since 2013. U.S. President Joe Biden will replace the leader of the Federal Housing Finance Agency following a

Read More »

FHFA details plans to help borrowers with limited English proficiency

In an effort to overcome some of the obstacles in the way of limited English proficiency borrowers, the Federal Housing Finance agency has released a new Language Access Multi-Year Plan that lays out potential solutions.

FHFA Plans to Ease Lending Standards

Federal Housing Finance Agency Director Mel Watt on Monday announced plans to expand home buyers’ access to mortgages by loosening up lending standards. During the Mortgage Bankers Association’s annual conference, Watt said FHFA will release guidelines “in the coming weeks” to allow increased lending to borrowers with down payments as low as 3 percent. FHFA,

Read More »

Chicago Begins Renovating and Renting out Foreclosed Condos

Cities across the US are grappling with the same question: What to do with all of those homes left vacant by the large number of foreclosures? While government agencies at a national level struggle to put together a coherent program for transforming foreclosed homes into rental properties, it seems that some cities are already taking matters into their own hands.

Cook County Passes Ordinance to Regulate Vacant Homes

Today the Cook County Board passed an ordinance that will introduce regulations for vacant homes. The ordinance is similar to one that the city of Chicago recently instituted and will cover the non-incorporated areas in Cook County. The move comes in spite of the fact that the Chicago ordinance is now involved in a federal

Read More »

Lawmakers Looking to Block $12.79 Million Bonuses

Government-controlled mortgage finance firms, Fannie and Freddie, have received around $169 billion of taxpayer’s money in an effort to prop them up, but it was recently revealed the firms were paying just 10 executives around $12.79 million in bonuses. This unwelcome news has prompted lawmakers to look at ways of blocking these hefty bonus packages,

Read More »

Federal Regulators Plan to Overhaul Mortgage Refinance Program

Plans have just been revealed for federal regulators to overhaul a mortgage refinance program, and the White House hopes this will help to revitalize the housing market. This latest overhaul would allow homeowners to refinance their mortgages regardless of whether or not they are “underwater,” making this extremely significant for those homeowners in states where

Read More »

Fannie and Freddie Could Raise Fees in 2012

Analysts believe that the government may need to charge higher fees to lenders and increase mortgage insurance from borrowers in order to guarantee loans when they go ahead and overhaul Fannie Mae and Freddie Mac – a move that could lead to increased borrowing costs. The government is trying to boost competitiveness within mortgage markets,

Read More »

RealtyBizNews: Real Estate Marketing & Beyond