Links in “FHFA”
- FHFA Drops Membership Limits Based on Residential Mortgages
The Federal Housing Finance Agency has issued a final rule regarding membership with the Federal Home Loan Bank that does not include a provision that would have required members to maintain at least 10% of their loan assets in residential mortgage loans. The 10% requirement was seen as a road block for some credit unions. [1/13/16]
- The New Appraisal Rule has been Appraised
A final rule has been adopted by the OCC, Board, FDIC, NCUA, CFPB, and FHFA that sets forth minimum requirements in the Dodd-Frank Act for appraisal management companies. [6/9/15]
- Fannie and Freddie G Fees to Hold Steady with “Modest Changes”
Following a review, the FHFA has determined that guarantee fees charged by Fannie Mae and Freddie Mac will remain at current levels with a few tweaks. "Overall, the set of modest changes to guarantee fees are roughly revenue-neutral and will result in either little or no change for most borrowers." [4/21/15]
- Are Freddie and Fannie Heading for Another Bailout?
According to a report released by the Inspector General for the Federal Housing Finance Agency, the answer is âvery possibly.â The report noted that income growth from guarantee fees may not be sufficient to offset the loss in income from retained portfolios. [3/24/15]
- House GOP Hammers Head of FHFA for Loosening Standards
Once a senior member of the House banking panel, Mel Watt returned yesterday as the top regulator for the Federal Housing Finance Agency to a less-than-warm welcome. GOP lawmakers hammered on Watt for what they consider to be moves that are exposing the U.S. to the same problems that led to the mortgage crisis. [1/28/15]
- Top 5 Mortgage Servicing News Stories of 2014
DS News names its top five government headlines of 2014. Topping its list: Mel Watt sworn in as new director of the Federal Housing Finance Agency after months of contentious debate. [12/31/14]
- CU Trades Blast New FHFA Proposal
No one in the credit union industry is happy about the Federal Housing Finance Agencyâs new proposed rule that would require credit unions to retain 10% of all of their assets in residential mortgages in order to retain their membership in the Federal Home Loan Bank system. All agree that, if adopted, the proposed the rule could significantly limit a valuable source of liquidity for credit unions. [12/15/14]
- FHFA’s Policy Reversal a “Feel Good” Change with Minimal Impact
The FHFA's policy change to allow foreclosed-upon borrowers to repurchase their homes at a lower price is expected to be only applicable to 121,000 homes. Limiting the policy to those who have already been foreclosed upon is intended to curtail incentive for borrowers in good standing to default. [12/1/14]
- Agencies Finalize Credit Risk Retention Rules
The finalized risk retention rule from the FDIC, FRB, OCC, SEC, HUD, and FHFA reduces the risk retention requirements for ABS collaterlized by commercial, commercial real estate, or auto loans and includes a prohibition of hedging and the transfer of risk retention. [11/20/14]
- House Members Write FHFA over Concerns with the FHLB Proposed Membership Rule
68 members of the House have written Federal Housing Finance Board Director Mel Watt to express their concerns that his agencyâs proposed rule that would make changes to eligibility requirements for membership with the Federal Home Loan Banks could adversely affect the ability of credit unions and community banks to participate in this important liquidity avenue. [11/18/14]
