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  • Ocwen5.29+0.09 +1.73%
  • Zillow33.54+0.60 +1.82%
  • Trulia47+0 +0%
  • NationStar16.04+0.11 +0.69%
  • CoreLogic40.22+0.14 +0.35%
  • RE/MAX57.70-0.20 -0.35%
  • Fannie Mae2.65+0.01 +0.38%
  • Freddie Mac2.54+0.02 +0.79%
  • Wells Fargo55.67-0.29 -0.52%
  • CitiMortgage59.39-0.03 -0.05%
  • Bank of America23.35-0.13 -0.55%
  • Fidelity National Financial39.07+0.16 +0.41%
  • First American38.87-0.18 -0.46%
  • Black Knight Financial Services38.65+0.45 +1.18%
  • AUDUSD=X0.7668-0.0002 -0.0196%
  • USDJPY=X111.1040+0.0890 +0.0802%
Home | News | Secondary Market

Fannie Mae Clarifies Clear Boarding Policies

The GSE no longer allows plywood to be used on homes in preforeclosure, however, this rule does not apply to Fannie Mae’s REO properties. As of March 29, servicers have 90 days to re-glaze/repair or clear board all unsecured and previously plywood boarded windows. Additionally, Fannie Mae will allow servicers seven days to secure a property after it has been found vacant, by re-glazing/repairing or clear boarding.

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FHFA Releases GSE Progress Report

Fannie Mae and Freddie Mac have made headway on goals set forth in the 2016 Scorecard by the Federal Housing Finance Agency, according to the FHFA's Progress Report released on Wednesday. GSE efforts to improve credit access, assist borrowers, and reduce taxpayer credit risk were all noted in the agency's report. FHFA is currently soliciting comments on the Progress Report at FHFA.gov.

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Fannie, Freddie Transfer $18B in Risk

The FHFA’s Credit Risk Transfer Report revealed a big uptick in GSE credit risk transfer for 2016. Fannie Mae and Freddie Mac transferred a combined $18 billion in credit risk on $548 billion mortgages for the year. Risk was transferred via a variety of debt issuances, insurance and reinsurance programs, and front-end transactions.

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Ocwen Appoints Independent Member on its Board of Directors

The company has also increased the size of the Board from eight members to nine after the appointment of the newest Board member. Ronald J. Korn, a Director at Ocwen, has informed the Board that he will retire from the Director position this May. Upon Korn’s resignation, the size of the Board will be reduced from nine members to eight.

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