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Realtors® Release New Vision for Fannie Mae, Freddie Mac Reform

Washington, D.C. – February 7, 2019 (nar.realtor) With over 400 people on hand for the National Association of Realtors®’ Housing Finance Reform Policy Forum, NAR today unveiled a new vision for reforming the GSEs. As featured speakers for the panel titled “NAR’s vision: A plan for secondary finance shaped in the aftermath of adversity for longevity,” co-authors Dr. Susan Wachter, Professor of Real Estate and Finance at the University of Pennsylvania, and Dr. Richard Cooperstein, head of Risk Ma...
Tags: Real Estate, Washington, America, Radio, University of Pennsylvania, Freddie Mac, Congressional, NAR, FHFA, Grand Hyatt, Fannie Mae, National Association of Realtors, Real Estate News, The National Association of Realtors, Real Estate and Finance, Middle America


Local Spotlight: Reverse Mortgages in the Pacific Northwest

One year ago, two U.S. cities saw significant year-over-year growth far outpacing the national loan volume average, according to 2018 data from Reverse Market Insight. Have those two cities – Portland, Ore., and Seattle – slowed down since? And what’s the market like in the rest of the Pacific Northwest region? The answer is: It’s complicated. Regional Stats:Total PNW Population: 6,358,194 (combination of both Seattle and Portland metropolitan areas via 2010 census data)Senior Population (...
Tags: Featured, Finance, Portland, Seattle, Pacific Northwest, WA, Bellingham Wash, FHFA, Greenleaf Financial LLC, Lynn Wertzler, Wertzler, Braley, Meredith Landry, Brandi Braley, Marketing & Sales, Bellingham Seattle Tacoma


Home prices in November climbed nearly 6% year-over-year

U.S. home prices rose 0.4 percent from October to November and 5.8 percent year-over-year, according to data from the Federal Housing Finance Agency.
Tags: Florida, Maryland, California, Washington, Oregon, Virginia, West Virginia, Georgia, Data, Radio, Alaska, Hawaii, North Carolina, District Of Columbia, Delaware, South Carolina


Will new mortgage regulators in D.C. keep your home safe?

What’s up with mortgage rates? Jeff Lazerson of Mortgage Grader in Laguna Niguel gives us his take. Rate news summary From Freddie Mac’s weekly survey:  Down 2 basis points from last week and, for the first time in four months, the 15-year fixed rate is under 4 percent, averaging 3.99 percent. The 30-year fixed rate improved to 4.55 percent, down 4 basis point from last week. The Mortgage Bankers Association reported an almost 10 percent drop in mortgage application volume from two weeks earlier...
Tags: Business, Obama, Housing, Washington, Senate, Sport, Soccer, Ohio, Donald Trump, Mike Pence, Freddie Mac, Fred, Calabria, FHA, Watt, LAYTON


Top 10 Reverse Mortgage Stories of 2018

Along with new hurdles introduced to the reverse mortgage business in 2018 – like a potentially difficult rule concerning second appraisals and the prolonged FHA approval process for condominiums – there also came new opportunities. Among these are the increasing prevalence of proprietary jumbo loans, and another rise in the HECM lending limit from the Department of Housing and Urban Development (HUD). To put a cap on RMD’s coverage for the year, we thought we’d take a look back and present the ...
Tags: News, Finance, San Diego, Hud, Zillow, Freddie Mac, FHA, FHFA, Federal Housing Administration, Fannie Mae, FAR, Department of Housing and Urban Development HUD, Fannie, MMI, HECM, Reverse Mortgage


FHFA Increases Conforming Loan Limits for Fannie, Freddie in 2019

The Federal Housing Finance Agency announced on Tuesday that it would be increasing the conforming loan limits on mortgages to be acquired by Fannie Mae and Freddie Mac for the third consecutive year. In most of the United States, the maximum conforming loan limit for one-unit properties in 2019 will be $484,350, an increase from the 2018 figure of $453,100. For areas that generally feature higher-than-average home values, defined as places where median home values exceed 115% of the baseline...
Tags: News, Finance, United States, Freddie Mac, FHA, Hera, FHFA, Fannie Mae, Department of Housing and Urban Development, Federal Housing Finance Agency, Fannie, Federal Housing Administration FHA, Reverse Mortgage, HPI


GAO-19-183R, Financial Audit: Federal Housing Finance Agency's Fiscal Years 2018 and 2017 Financial Statements, November 15, 2018

What GAO Found GAO found (1) the Federal Housing Finance Agency's (FHFA) financial statements as of and for the fiscal years ended September 30, 2018, and 2017, are presented fairly, in all...
Tags: GAO, GAO Found GAO, FHFA, Federal Housing Finance Agency


LIBOR’s Exit Could Mean Gains for Reverse Mortgages

When the LIBOR index expires in three years, experts predict it will most likely be replaced by the Secured Overnight Financing Rate — and transitioning to this index could create billions in reverse mortgage gains and investor losses, a new article states. According to Urban Institute researchers, a Federal Reserve group convened and recommended the SOFR to take the place of LIBOR. The LIBOR — London Interbank Offered Rate — is the rate that some of the world’s banks use to lend money to one an...
Tags: News, Finance, Federal Reserve, FHA, Urban Institute, FHFA, Federal Housing Finance Agency, Fannie Mae Freddie Mac, Federal Housing Administration FHA, HECM, Reverse Mortgage, Ginnie Mae, London Interbank, SOFR


Fannie, Freddie increasing mortgage loan limits

What’s up with mortgage rates? Jeff Lazerson of Mortgage Grader in Laguna Niguel gives us his take. Rate news summary From Freddie Mac’s weekly survey: The 30-year fixed rate fell 5 basis points from last week, landing at 4.85 percent. The 15-year fixed averaged 4.26 percent, 3 basis points lower than last week. The Mortgage Bankers Association reported a 7.1 percent decrease in loan application volume from the previous week. Bottom line: Assuming a borrower gets the average 30-year fixed rate...
Tags: Business, Real Estate, Washington, Los Angeles, Sport, Soccer, Janet Yellen, Magic Johnson, Lakers, San Bernardino, The Lakers, Freddie Mac, Irvine, Freddie, FHFA, Daren Blomquist


Mortgage Translations Clearinghouse Launched to Help Borrowers with English Language Barriers

Washington, D.C. – Oct. 15, 2018 (PRNewswire) The Federal Housing Finance Agency (FHFA), Freddie Mac (OTCQB:FMCC), and Fannie Mae (OTC Bulletin Board: FNMA) together announce the launch of Mortgage Translations – a centralized clearinghouse of online resources to assist lenders, servicers, housing counselors, and other real estate professionals in serving limited English proficient (LEP) borrowers. LEP borrowers make up a growing share of today’s mortgage market – a trend that is likely to con...
Tags: Real Estate, News, Congress, Washington, Mortgages, Radio, Mortgage, Freddie Mac, Tagalog, Consumer Financial Protection Bureau, FHFA, U S Census, Fannie Mae, Lep, Real Estate News, Federal Housing Finance Agency


Policy Matters: FHFA Ends Single-Family Rental Pilot Program

In a win for prospective homebuyers across the country, the Federal Housing Finance Agency (FHFA) announced on Aug. 21, 2018 that Fannie Mae and Freddie Mac (the Enterprises) will end their single-family rental pilot programs. The FHFA found that the institutional, single-family rental investor market is performing well without the liquidity provided by the Enterprises. Moreover, the Enterprises will limit their participation in the single-family rental market to their prior investments over the...
Tags: News, Congress, Radio, National, Latest News, Blackstone Group, Freddie Mac, FHA, NAR, Enterprises, FHFA, Fannie Mae, National Association of Realtors, Real Estate News, Real Estate Trends, Federal Housing Finance Agency FHFA


United States: Bank Regulators Allow QFC Amendments To Unmargined Legacy Swaps - Cadwalader, Wickersham & Taft LLP

U.S. "prudential regulators" (i.e., the Federal Reserve Board, the Office of the Comptroller of the Currency, the FDIC, Farm Credit Administration, and FHFA) adopted amendments to uncleared swap margin requirements.
Tags: News, United States, FHFA, Cadwalader Wickersham, Taft LLP


National Association of Realtors® Commends FHFA Decision to Abandon Single Family Rental Program

August 21, 2018 (nar.realtor) The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac will conclude their single-family rental pilot programs. National Association of Realtors® President Elizabeth Mendenhall, a sixth-generation Realtor® from Columbia, Missouri and CEO of RE/MAX Boone Realty, issued the following statement commending the FHFA for its decision: “With inventory shortages facing housing markets across the country, the National Association of Realto...
Tags: Real Estate, News, Congress, Radio, Freddie Mac, NAR, Columbia Missouri, FHFA, Fannie Mae, National Association of Realtors, Real Estate News, Federal Housing Finance Agency, Elizabeth Mendenhall, Federal Housing Finance Agency FHFA, Boone Realty, Wesley Shaw


U.S. housing finance agency chief Watt says he is under investigation

The director of the Federal Housing Finance Agency (FHFA), Mel Watt, confirmed on Friday that he is under investigation after Politico reported that he was being probed for alleged sexual harassment of an agency employee. "The selective leaks related to this matter are obviously intended to embarrass or to lead to an unfounded or political conclusion," Watt said in a statement. "I am confident that the investigation currently in progress will confirm that I have not done anything contrary to la...
Tags: News, Politico, Watt, FHFA, Fannie Mae, Federal Housing Finance Agency FHFA Mel Watt, Freddie Mac Politico


HARP Now Extended Through 2016

Since it first launched in 2009, the Home Affordable Refinance Program (HARP) has helped 3.2 million borrowers across the country lower their monthly payments by refinancing at historically low interest rates. Friday, FHFA Director Melvin Watt announced this relief won’t be ending any time soon. HARP will continue through the end of 2016, allowing homeowners who owe more than their homes are worth and regularly make mortgage payments to refinance. To help eligible borrowers take advantage of thi...
Tags: Uncategorized, Chicago, Radio, Zillow, Harp, FHA, FHFA, Melvin Watt


Statement from NAR President Mendenhall Regarding Fannie, Freddie Profits

Washington, D.C. – May 2, 2018 (nar.realtor) Government-sponsored enterprises Fannie Mae and Freddie Mac both reported multi-billion dollar profits this week. NAR President Elizabeth Mendenhall, a sixth-generation Realtor® from Columbia, Missouri and CEO of RE/MAX Boone Realty issued the following statement calling on the Federal Housing Finance Agency to reduce the fees the GSEs charge to lenders and homebuyers: “The National Association of Realtors® urges government-sponsored enterprises Fann...
Tags: Real Estate, Washington, America, Radio, Profit, Profits, Freddie Mac, U S Treasury, NAR, Columbia Missouri, FHFA, Fannie Mae, National Association of Realtors, Real Estate News, Mendenhall, Federal Housing Finance Agency


PHH Corp Says “I Do” to Ocwen – The Marriage from Hell

If you were to ask us to name the two worst mortgage loan servicers in America, our answer would be Ocwen Financial and PHH Corp. Both have horrendous track records and seem to always get caught putting profits before homeowners. Until today, I would say that things in the loan servicing world couldn’t get any worse. They just did. Out of nowhere, Ocwen announced that it was buying rival PHH for $360 million in cash. Cash that it probably plucked from the purses of struggling homeowners. The com...
Tags: New York, Taxes, Congress, America, Washington Dc, Va, Hud, Justice Department, New York State, Ben Carson, Joe, Msp, Cuomo, Bureau, U S Department of Justice, FDIC


FHFA: Home Prices Rose in November

Home prices rose 0.4 percent month-over-month in November 2017, according to the Federal Housing Finance Agency’s (FHFA) recently released House Price Index (HPI). The HPI year-over-year—based on prices for homes with Fannie Mae- or Freddie Mac-backed mortgages—was up 6.5 percent. Per the Index, month-over-month home prices changes ranged from -1.1 percent in the East South Central Census division to +0.9 percent in the West North Central division. Home price changes year-over-year ranged from +...
Tags: News, Radio, National, Latest News, Freddie Mac, FHFA, Fannie Mae, Real Estate News, Federal Housing Finance Agency, Buying/Selling, Home Prices, HPI, East South Central Census, Middle Atlantic Census, West North Central


Maximum Loan Limits Increase on Fannie, Freddie Mortgages

The maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac will increase to $453,100 for most markets in 2018, the Federal Housing Finance Agency (FHFA) recently announced. The increase in the baseline loan limit, mandated by the Housing and Economic Recovery Act (HERA), is in response to rising values. The maximum loan limit will be higher in high-priced markets were 115 percent of the median home value exceeds the baseline loan limit; the ceiling on that limit is 1...
Tags: News, Radio, Latest News, Freddie Mac, FHFA, U S Virgin Islands, Fannie Mae, Real Estate News, Federal Housing Finance Agency, Buying/Selling, Federal Housing Finance Agency FHFA, FHFA Loan Limits, Maximum Loan Limits, Fannie Freddie Mortgages, Housing and Economic Recovery Act HERA, Alaska Guam Hawaii


Fannie Mae, Freddie Mac Will See Higher Lending Limits in 2018

The Federal Housing Finance Agency on Tuesday announced an increase in Fannie Mae and Freddie Mac lending limits, citing nationwide home-price gains — and perhaps signaling a similar change on the reverse mortgage side. Starting in 2018, Fannie and Freddie will have maximum conforming loan limits of $453,100 for single-unit properties, up from $424,100 in 2017. Under the Housing and Economic Recovery Act, or HERA, the FHFA must change its loan limits annually based on nationwide home price shift...
Tags: News, California, Washington, Finance, Hud, House Price Index, Freddie Mac, FHA, Freddie, Hera, FHFA, Federal Housing Administration, Fannie Mae, Department of Housing and Urban Development, Federal Housing Finance Agency, Fannie


GAO-18-166R, Financial Audit: Federal Housing Finance Agency's Fiscal Years 2017 and 2016 Financial Statements, November 15, 2017

What GAO Found GAO found (1) the Federal Housing Finance Agency's (FHFA) financial statements as of and for the fiscal years ended September 30, 2017, and 2016, are presented fairly, in all...
Tags: GAO, GAO Found GAO, FHFA, Federal Housing Finance Agency


Lawmakers Question Whether Key CIA Nominee Misled Congress

WASHINGTON (AP) — Two former CIA employees are accusing the Trump administration’s choice for CIA chief watchdog of being less than candid when he told Congress he didn’t know about any active whistleblower complaints against him. Members of the Senate Intelligence Committee asked Christopher Sharpley, the current acting inspector general who’s in line for the permanent job, about complaints that he and other managers participated in retaliation against CIA workers who alerted congressional comm...
Tags: News, Congress, Washington, Senate, Ap, United States, Iowa, Associated Press, Cia, House Intelligence Committee, Department Of Homeland Security, Senate Intelligence Committee, Justice Department, Trump, Senate Judiciary Committee, Grassley


REALTORS® Conference & Expo Spotlight: Using Data to Understand Real Estate Trends

Rising home prices, affordability problems and a lack of education will affect many segments of the real estate industry, but none more than homebuyer and seller activity. The topic was discussed at this year’s REALTORS® Conference & Expo, alongside a breakdown of the National Association of REALTORS®’ (NAR) 2017 Profile of Home Buyers and Sellers. The session was moderated by Dr. Lawrence Yun, chief economist and senior vice president of Research at NAR, and featured speakers Jessica Lautz, man...
Tags: News, Radio, Latest News, Best Practices, NAR, FHFA, National Association of Realtors, Yun, Real Estate News, Lawrence Yun, Real Estate Trends, Home Prices, Spotlights, Home-Buying, REALTORS® Conference & Expo, Profile of Home Buyers and Sellers


Understanding Buyer Preferences and Local Price Trends Can Help Realtors® Gain a Competitive Advantage

Chicago, IL – November 4, 2017 (nar.realtor) Rising home prices amidst tight inventory conditions are creating challenging conditions for home shoppers, but understanding recent buyer preferences, and becoming knowledgeable of where buyers may see the best return on their purchase over time, can ensure real estate professionals are providing irreplaceable value to help their clients achieve their goals. That is according to speakers at a buyer preferences session organized by the REALTOR® Unive...
Tags: Real Estate, Local, America, Trends, Preference, Chicago, Radio, Price, Edge, Buyer, Preferences, NAR, FHFA, National Association of Realtors, Real Estate News, Federal Housing Finance Agency


FHFA: Home Prices Rose in August

Home prices rose 0.7 percent month-over-month in August 2017, according to the Federal Housing Finance Agency’s (FHFA) recently released House Price Index (HPI). The HPI year-over-year—based on prices for homes with Fannie Mae- or Freddie Mac-backed mortgages—was up 6.6 percent. Per the Index, month-over-month home price changes range from -0.1 percent in the New England Census division to +1.4 percent in the Pacific division. Home price changes year-over-year ranged from +5.0 percent in the Mid...
Tags: News, Radio, National, Pacific, Latest News, Freddie Mac, FHFA, Fannie Mae, Real Estate News, Federal Housing Finance Agency, Buying/Selling, Home Prices, HPI, Middle Atlantic Census, New England Census


Looking for CENLAR Insider (Mortgage Servicer Whistleblower Post)

[Post updated October 2017] Cenlar FSB bills itself as the “nation’s leading loan serving provider.” Their website claims the company “earned a reputation for excellence and dedication to client service.” Unfortunately, their clients are big banks and mortgage trusts, not the tens of thousands of homeowners who rely on them for loan serving. We are investigating the claims of one of our clients, a homeowner that says Cenlar routinely violates HUD’s loan servicing and loss mitigation guidelines. ...
Tags: Florida, New York, Taxes, Congress, Hud, Justice Department, Thomas, Freddie Mac, FHA, FHFA, Fraud Recovery, Brian Mahany, FIRREA, MahanyLaw America, Foreclosure Defense, FHA Fannie Mae


FHFA: Home Prices Rise in Q2

Home prices rose 1.6 percent in the second quarter of 2017, according to the Federal Housing Finance Agency’s (FHFA) House Price Index (HPI). The HPI year-over-year—based on prices for homes with Fannie Mae- and Freddie Mac-backed mortgages—was up 6.6 percent. “U.S. house prices rose in most states during the second quarter,” said William Doerner, senior economist at the FHFA, in a statement. “New-home sales are climbing, but, relative to the overall population, they still remain low from a hist...
Tags: News, Radio, National, Latest News, Freddie Mac, FHFA, Fannie Mae, Federal Housing Finance Agency, Buying/Selling, Home Prices, HPI, Middle Atlantic Census, Pacific Census, William Doerner


FHFA: Home Prices Rose in May

Home prices rose 0.4 percent month-over-month in May 2017, according to the Federal Housing Finance Agency’s (FHFA) recently released House Price Index (HPI). The HPI year-over-year—based on prices for homes with Fannie Mae- and Freddie Mac-backed mortgages—was up 6.9 percent. Per the Index, month-over-month home price changes ranged from -0.5 percent in the Middle Atlantic Census division to +1.0 percent in the West South Central division. Home price changes year-over-year ranged from +4.0 perc...
Tags: News, Radio, National, Pacific, Latest News, Freddie Mac, FHFA, Fannie Mae, Federal Housing Finance Agency, Buying/Selling, Home Prices, HPI, Middle Atlantic Census, West South Central


10 things you need to know before the opening bell

Here is what you need to know. The incident in which a van plowed into pedestrians near the Finsbury Park Mosque in North London on Sunday is being treated as a "terrorist attack," police said. One man died and 10 others were injured.  Brexit negotiations officially begin.  Brexit Minister David Davis will on Monday meet with chief EU negotiator Michel Barnier in Brussels for the first day of what he described as "historic" talks that will set Britain on the road to leaving the EU. Amazon is p...
Tags: Apple, Amazon, White House, US, Trends, Eu, Opec, Bloomberg, Bbc, Britain, Reddit, Brussels, Lockheed Martin, Donald Trump, David Davis, north London


GAO-17-552R, Management Report: Opportunities for Improvement in FHFA's Evaluation of Internal Control over Financial Reporting, June 14, 2017

What GAO Found During its audit of the Federal Housing Finance Agency's (FHFA) fiscal years 2016 and 2015 financial statements, GAO identified deficiencies in FHFA's evaluation of internal...
Tags: GAO, FHFA, Federal Housing Finance Agency, Evaluation of Internal Control