The Federal Housing Finance Agency on Wednesday announced Fannie Mae and Freddie Mac will implement a new refinance option for low-income borrowers with government-sponsored enterprise-backed single-family mortgages.
Category: News and Trends
CFPB Formally Delays QM Final Rule Compliance Date to Oct. 2022
The Consumer Financial Protection Bureau yesterday formally delayed the mandatory compliance date of its General Qualified Mortgage final rule to October 1, 2022.
CMBS Supply-Demand Fundamentals Dip
Moody’s Investors Service, New York, said the supply and demand outlook for most property types in the securitized commercial real estate market dipped in fourth-quarter 2020.
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“Commercial and multifamily mortgage delinquency rates declined in April but remain elevated overall, driven by the continuing challenges facing many hotel and retail properties.”
–Jamie Woodwell, MBA Vice President of Commercial Real Estate Research.
MBA Releases Templates for Servicer Communications with Existing ARM Borrowers in Preparation for LIBOR Expiration
The Mortgage Bankers Association this week released two templates for residential mortgage servicers’ communications with borrowers with existing London Interbank Offered Rate (LIBOR)-indexed adjustable-rate mortgages.
#MBASpring21: Administration Acknowledges Issues with GSE Product Caps
During the final months of the Trump Administration, the Federal Housing Finance Agency implemented product caps on Fannie Mae and Freddie Mac through their Senior Preferred Stock Purchase Agreements—a move that the Mortgage Bankers Association called “disruptive” for many of its members.
MBA: Share of Mortgage Loans in Forbearance Dips to 4.49%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey showed little movement from the previous week. MBA said loans now in forbearance decreased by 1 basis point to 4.49% of servicers’ portfolio volume as of Apr 18 from 4.50% the prior week. MBA estimates 2.25 million homeowners are in forbearance plans.
FHFA to Phase Out COVID-Related Loan Flexibilities By End of May
The Federal Housing Finance Agency said it would extend some temporary loan origination flexibilities for Fannie Mae and Freddie Mac through May 31—and that’s it.
#MBASPRING21 HUD Secretary Fudge Talks COVID, Infrastructure, Enforcement
A little more than a month ago, Rep. Maria Fudge, D-Ohio, voted “yes” to approve the American Rescue Plan, a nearly $2 trillion initiative by the Biden Administration to support the economy. Now, as HUD Secretary, it’s her job to put key provisions of the legislation into action.
#MBASpring21: FHFA Director Calabria on Origination Flexibilities, Lessons Learned
A lot has happened in the past two years, Federal Housing Finance Agency Director Mark Calabria said yesterday at the Mortgage Bankers Association’s Spring Conference & Expo.