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

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Fannie Mae & Freddie Mac to raise loan limits to almost $1 million in some areas

Prompted by a massive rise in home prices over the last year, Fannie Mae and Freddie Mac are reportedly planning to revise the maximum size of the mortgages they’re prepared to back next year. According to the Wall Street Journal, the government sponsored entities are willing to increase their loan limits to almost $1 million

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Freddie Mac program aims to help renters boost their credit scores

Freddie Mac says it wants to help make renters more creditworthy and it’s putting its words into action with a new program that allows their rental payments to make a difference. Under the new scheme, owners or managers of multifamily properties will be able to report on-time rental payments to credit bureaus, in a move

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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

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Granny Flats are growing in popularity due to the housing crunch, study finds

The number of accessory dwelling units in the U.S. has increased dramatically as a result of the housing inventory crunch, especially in high-cost areas where populations have risen significantly over the last decade, according to a new Freddie Mac study. The research found there are 1.4 million ADUs in the U.S., which include granny flats,

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Freddie Mac warns of mortgage aid scammers

Scammers are reportedly targeting homeowners with fake offers of financial aid at a time when many are struggling to pay their mortgages due to the coronavirus outbreak. In one example, Freddie Mac last week warned of a new scam that saw borrowers receive fake calls impersonating the mortgage giant, offering low interest rates and other

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Fannie & Freddie’s new mortgage payment deferral plan

Fannie Mae and Freddie Mac have announced a new payment deferral option for homeowners who’re struggling to meet their mortgage repayments. The new option is available regardless of if homeowners are struggling to pay due to the coronavirus outbreak, HousingWire reported. The new option would enable homeowners to defer payments for up to two months,

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Fannie Mae & Freddie Mac ease mortgage requirements

Fannie Mae and Freddie Mac have been told by the Federal Housing Finance Agency to come up with alternatives to appraisal requirements and employment verification on loans they service through May 17, in response to the COVID-19 shutdown. “To allow for homes to be bought, sold, and refinanced as our nation deals with the challenges

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Trump announces moratorium on foreclosures due to coronavirus

U.S. President Donald Trump announced Wednesday a full moratorium on foreclosures for homeowners with mortgages backed by Fannie Mae, Freddie Mac and the Federal Housing Administration. The Department of Housing and Urban Development has also provided help, saying it will suspend all evictions of public housing residents. It’s said that FHA loans and public housing

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Freddie Mac says the U.S. needs at least 3.3 million more homes

Home buyers are struggling to find an ideal property to buy due to a shortage of inventory across the nation, and things will likely get worse before they improve, according to a new study by Freddie Mac. Freddie Mac’s study reveals that there is a shortage of 3.3 million homes in the U.S. It puts

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