Reports have shown that Foreclosures and delinquencies have continued to drop within government-sponsored enterprises such as Fannie Mae and Freddie Mac after second-quarter reviews from the Federal Housing and Finance Agency’s (FHFA) Foreclosure Prevention Report. Interestingly, third-party sales and foreclosures fell 10% from last quarter and foreclosure starts decreased by 11%. This is the result […]
Mortgage News Daily recently reported that four members of the Senate Banking, Housing and Urban Affairs Committee have introduced legislation that would control how the increase in guarantee fees levied by Fannie Mae and Freddie Mac are used and when the stock in the two companies can be approved for sale. The Jumpstart GSE Reform […]
The Federal Housing Finance Agency (FHFA) and Consumer Financial Protection Bureau (CFPB) have decided to generate a national mortgage database in order to produce a more organized, more thorough compilation of mortgage and general housing market information. The accumulated data will provide agencies with more information and allow them to create better, more educated policies. […]
The Federal Housing Finance Agency (FHFA) recently reported that the national average contract mortgage rate for the purchase of previously occupied homes by combined lenders was 4.42% for November. That figure is down from October’s rate of 4.47%. The FHFA also reported that the average interest rate on conventional 30-year fixed-rate mortgage loans of $417,000 […]
Today’s Wall Street Journal reported that it will cost taxpayers another $154 billion to keep Fannie Mae and Freddie Mac afloat under the most likely scenario for home prices. But if the economy slides back into a recession and the housing market worsens, then the price tag to the taxpayers can be higher than that. […]
Despite already receiving $145 billion in taxpayer monies from the Treasury, Freddie Mac and Fannie Mae are asking for more money in order to provide funding for the U.S. mortgage market and to keep the market stable. MarketWatch reports that another bailout would ensure there is adequate capital available to banks and other lenders. Of […]
The Federal Housing Finance Agency has announced that Freddie Mac and Fannie Mae will launch a standardized method for lenders to submit information on mortgages as well as appraisals, according to today’s Reuters article. The protocol is expected to go into effect by 2011. Known as the Uniform Mortgage Data Program, it is geared to […]