News Topic: Fannie Mae

The Federal Housing Finance Agency's proposal could undermine the companies’ mission to support the housing market and penalize consumers in underserved communities, industry and consumer groups say. ... Read full article

The agency’s plan to extend the "qualified mortgage" stamp of approval to more loans could help lenders that rely on alternative data and cushion the blow of other QM changes for Fannie Mae and Freddie Mac. ... Read full article

Why PayPal just deposited $50 million in tiny Optus Bank; ex-Bank of America employees allege 'extreme pressure' to sell credit cards; the Citi snafu may bring fresh scrutiny to custodial banks; and more from this week's most-read stories. ... Read full article

Refinancing has been one of the bright spots in a difficult year for lending, and the industry has concerns that a fee to be imposed by Fannie Mae and Freddie Mac could slow down the business. ... Read full article

Both the Federal Housing Finance Agency and Federal Housing Administration are extending relief for homeowners and renters due to the pandemic crisis. ... Read full article

The mortgage giants were criticized earlier this month for a plan to charge an "adverse market fee" to protect against losses resulting from the pandemic. ... Read full article

Lenders initally won't be able to pass on the cost of the Federal Housing Finance Agency's "adverse market fee" to borrowers whose rates on GSE-backed mortgages and refinances are already locked in. ... Read full article

The new “adverse market fee” for refinanced mortgages resembles steps the companies took to combat the 2008 mortgage crisis. But critics charge it isn’t necessary and will hurt borrowers’ ability to tap into low rates. ... Read full article

The agency said property owners can enter into new or modified forbearance plans if they have a hardship due to the coronavirus, but the landlords must agree not to kick out renters solely for nonpayment of rent. ... Read full article

Bankers are left wanting after details on PPP forgiveness plan emerge; why OnDeck is being sold on the cheap; Fannie, Freddie to face banklike liquidity standards starting Sept. 1; and more from this week’s most-read stories. ... Read full article

The mortgage giants will have to meet benchmarks for covering cash flow needs during stressed periods. The FHFA views the requirements as a prerequisite to the companies exiting conservatorship. ... Read full article

The key word is "temporary" with the FHA's quality control waiver expiring and not likely to be renewed. ... Read full article

Fannie Mae and Freddie Mac have imposed heavy price adjustments for loans that were granted relief under the pandemic relief law enacted in March. ... Read full article

The Federal Housing Finance Agency will extend the same GSE benchmarks of the past three years into 2021. ... Read full article

The Financial Stability Oversight Council’s plan to study the market explains very little about which activities or firms, like Fannie Mae and Freddie Mac, will be designated as systemically important. Here's some clearer guidance. ... Read full article

A recent ruling declaring the Consumer Financial Protection Bureau’s structure unconstitutional signaled that a similar outcome awaits the Federal Housing Finance Agency. But the FHFA will argue in a new case that it does not deserve the same fate. ... Read full article

The council created by the Dodd-Frank Act to identify systemic risks launched a review of the market as part of an activities-based approach that shifts focus away from targeting individual firms. ... Read full article

The bank is expected to report a small net profit for the second quarter next week; shareholders are challenging the government's 2012 decision to appropriate nearly all of the agencies' profits. ... Read full article