Tag: MBA Advocacy Update

On Wednesday, HUD issued a waiver allowing FHA to insure loans to borrowers with residency under the DACA program. And on Tuesday, FHFA issued an RFI on risks posed by climate change and natural disasters to Fannie Mae, Freddie Mac, the Federal Home Loan Banks and the broader housing finance system.

With congressional majorities now settled and the Biden-Harris Inauguration Day looming, on Thursday the Treasury Department and the Federal Housing Finance Agency released an amendment to the Preferred Stock Purchase Agreements governing the conservatorships of Fannie Mae and Freddie Mac. Importantly, the revisions do not call for the premature release of the GSEs from conservatorship, heeding the concerns MBA had raised in recent weeks about potential market disruptions from a rushed exit.

With congressional majorities now settled and the Biden-Harris Inauguration Day looming, on Thursday the Treasury Department and the Federal Housing Finance Agency released an amendment to the Preferred Stock Purchase Agreements governing the conservatorships of Fannie Mae and Freddie Mac. Importantly, the revisions do not call for the premature release of the GSEs from conservatorship, heeding the concerns MBA had raised in recent weeks about potential market disruptions from a rushed exit.

On Tuesday, the Federal Housing Finance Agency released the final 2021 Underserved Markets Plans for the GSEs under the Duty to Serve program. On Monday, MBA submitted comments in support of a proposed rule on supervisory guidance issued by a group of federal financial regulators.

On Tuesday, the Federal Housing Finance Agency released the final 2021 Underserved Markets Plans for the GSEs under the Duty to Serve program. On Monday, MBA submitted comments in support of a proposed rule on supervisory guidance issued by a group of federal financial regulators.

MBA – along with several trades – sent a letter to Treasury Secretary Steven Mnuchin expressing concerns regarding the possible release of the GSEs from conservatorship. On Wednesday, FHFA released a final rule extending the current single-family and multifamily GSE affordable housing goals by one year, through 2021.

The CFPB released its much-anticipated final QM rules replacing the so-called GSE Patch and providing QM status for “certain” seasoned loans. Both final rules reflected important provisions advocated by MBA throughout the comment process.

The CFPB released its much-anticipated final QM rules replacing the so-called GSE Patch and providing QM status for “certain” seasoned loans. Both final rules reflected important provisions advocated by MBA throughout the comment process.

Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell testified last week before House and Senate committees providing an update on CARES Act oversight. In both hearings, Mnuchin addressed the future of the GSEs, and stressed that they should not be released from conservatorship until each has sufficient capital.

Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell testified last week before House and Senate committees providing an update on CARES Act oversight. In both hearings, Mnuchin addressed the future of the GSEs, and stressed that they should not be released from conservatorship until each has sufficient capital.