Fannie Mae and Freddie Mac have completed approximately 3.3 million foreclosure prevention actions in the last six years, according to the Federal Housing Finance Agency (FHFA)'s Q3 Foreclosure Prevention Report released Monday. Including the 72,700 foreclosure prevention actions completed by the GSEs in the third quarter, the two Enterprises have performed about 3.3 million such actions since the start of the conservatorship under FHFA in September 2008, according to the report. Nearly 2.8 million of those borrowers were able to stay in their homes as a result of receiving assistance from Fannie Mae or Freddie Mac.
Read More »Fannie Mae Forecasts Economic Growth in 2015 Despite Ending Year On a Low Note
Fannie Mae's Economic & Strategic Research Group predicts in its December 2014 Economic Outlook that the U.S. economy will strengthen heading into 2015 following an up-and-down 2014 that ended on an unspectacular note. The Group is forecasting full-year growth of 2.1 percent for 2014, a full point below 2013's rate of growth, due to the reverse in the final quarter of some unsustainable forces that boosted the economy in the third quarter. However, the Group is predicting economic growth of 2.7 percent for 2015 based on firming consumer income prospects, rising consumer and business confidence, a broadening housing recovery, and reduced fiscal headwinds.
Read More »Community Lending Group Asks Government To Amend GSE Bailout Terms
As Fannie Mae and Freddie Mac continue to generate profits in a recovering housing market, a group of community lenders has joined the chorus of advocates calling for the government to revisit the terms of its bailout agreement with the two mortgage giants.
Read More »Lawmaker Criticizes FHFA’s Decision to Allocate GSE Money to Housing Groups
U.S. Representative Ed Royce (R-California), a senior member of the House Financial Services Committee, has issued a statement calling the Federal Housing Finance Agency (FHFA)'s announcement that the Agency will divert GSE money to the Housing Trust Fund and Capital Magnet Fund "outrageous."
Read More »Fannie Mae Announces Risk Transfer Deal to Increase Role of Private Capital in Mortgage Market
Fannie Mae has expanded its risk sharing offerings with Wednesday's announcement of the credit insurance risk transfer (CIRT) deal, which transfers the credit risk on a pool of loans from the taxpayers to a panel of domestic reinsurers.
Read More »Survey: Nearly 70 Percent of Industry Professionals See Lower Down Payment As Positive
The majority of mortgage industry professionals said they believed that the lowering of the down payment to 3 percent for first-time homebuyers by Fannie Mae and Freddie Mac is a step in the right direction for the housing market, according to the Collingwood Group's November 2014 Mortgage Industry Outlook Report released earlier this week.
Read More »Massachusetts AG Urges FHFA to Make More Changes to Buyback Policy
The Federal Housing Finance Agency (FHFA) recently changed its policy regarding buyback of REO properties through Fannie Mae and Freddie Mac, but Massachusetts Attorney General Martha Coakley thinks the agency could do more.
Read More »Survey: Mortgage Professionals Believe Business Is Better Than Last Year
Despite persistent concerns about risk and regulatory compliance, the majority of mortgage professionals agree that business conditions today are better now than they were a year ago.
Read More »Fannie Mae, Freddie Mac Announce Moratorium On Evictions for Foreclosed Properties
Fannie Mae and Freddie Mac announced on Tuesday a moratorium on evictions for single-family foreclosed homes for the holiday season.
Read More »Mortgage Professionals Support Reducing Presence of GSEs in Market
As policymakers continue to mull over the possible dissolution of Fannie Mae and Freddie Mac, a new survey shows industry professionals support the continued—albeit reduced—presence of the two mortgage giants in the market.
Read More »