The mortgage giants were authorized to give just over $1 billion combined to the National Housing Trust Fund and the Capital Magnet Fund this year, the highest contribution ever. The amount reflects refinancing growth in 2020.
The agency will allow an additional three months of forbearance for loans backed by Fannie Mae and Freddie Mac, giving homeowners up to 18 months to suspend payments due to the pandemic.
In a request for information, the agency sought feedback on how it should prioritize climate risks as part of its supervision of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
The FHFA and Treasury will allow Fannie Mae and Freddie Mac to hold more capital as part of the Trump administration's plans to release the companies from conservatorship. But it is unclear if the incoming Biden administration will keep the mortgage giants on the same reform path.
Treasury Secretary Steven Mnuchin has all but ruled out letting Fannie Mae and Freddie Mac exit U.S. control before he steps down, leaving it to the Biden administration to decide the fates of the mortgage giants.
Many have assumed the high court would rule that presidents can fire the Federal Housing Finance Agency director at will. But during oral arguments in a case challenging the agency’s structure, some justices suggested they could stop short of such a decision.
