It’s been a busy week for the Federal Housing Finance Agency. On Tuesday, FHFA and the Treasury Department suspended certain provisions added to the Preferred Stock Purchase Agreements with Fannie Mae and Freddie Mac. On Wednesday, FHFA announced a notice of proposed rulemaking to amend the Enterprise Regulatory Capital Framework for Fannie Mae and Freddie Mac.
Category: News and Trends
FHFA, Treasury Suspend Portions of GSE 2021 Preferred Stock Purchase Agreements
The Federal Housing Finance Agency and the Treasury Department on Sept. 14 suspended certain provisions added to the Preferred Stock Purchase Agreements with Fannie Mae and Freddie Mac in January.
CoreLogic: June Foreclosure Inventory Rate Lowest in Two Decades
CoreLogic, Irvine, Calif., said 4.4% of all mortgages in the U.S. were in some stage of delinquency in June, a 2.7-percentage point decrease in delinquency from a year ago but above the February 2020 pre-pandemic rate of 3.6%.
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“MBA’s new policy initiative serves as a perfect foundation to level the playing field. The mortgage industry has a responsibility to promote minority homeownership by partnering with key stakeholders to remove barriers and support financial education and counseling, with a goal to close the racial homeownership gap and increase generational wealth among minority households.”
–Susan Stewart, 2021 MBA Chair and CEO of SWBC Mortgage Corp. San Antonio, Texas.
Biden Nominates Alanna McCargo to Head Ginnie Mae
The Biden Administration on Monday nominated Alanna McCargo as President of Ginnie Mae. The Mortgage Bankers Association issued a statement in support.
MBA: Commercial, Multifamily Delinquencies Continue Downward Trend
Delinquency rates of mortgages backed by commercial and multifamily properties have broadly improved in recent months, according to two new Mortgage Bankers Association reports.
Share of Mortgage Loans in Forbearance Drops to 3.08%
Forbearance exits saw their fastest pace since March, the Mortgage Bankers Association reported Monday afternoon in its weekly Forbearance and Call Volume Survey.
Broeksmit: MBA Focused on Regulatory Issues
WASHINGTON—Mortgage Bankers Association President & CEO Robert Broeksmit, CMB, told attendees here at the MBA Regulatory Compliance Conference as Congress and the Biden Administration put plans into shape, the Association will continue to seek balance and advocate for the real estate finance industry.
Foreclosure Activity Increases after Moratorium Ends
Foreclosure activity increased significantly in August after the federal foreclosure moratorium ended July 31, reported ATTOM, Irvine, Calif.
CMBS Delinquency Rate Drops Sharply
The commercial mortgage-backed securities delinquency rate declined sharply in August, posting the largest drop in six months, reported Trepp LLC, New York.