Links in “Fannie Mae/Freddie Mac/Ginnie Mae”

In mid-2016, Fannie Mae lenders will be required to begin using trended data when underwriting single-family borrowers through Desktop Underwriter. Trended data will allow lenders to access monthly payment amounts over time. Other innovations will include new functionalities for underwriting borrowers without traditional credit histories, single sign-on capabilitie, and the ability to verify income directly through Desktop Underwriter. [10/21/15]

FNMA (Fannie Mae) is offering a new mortgage option, called HomeReady, that will take into consideration multi-generational and extended household income. To participate in this program, which permits downpayments as low as 3%, applicants must first complete an online education course to prepare them for the home-buying process. [8/27/15]

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]

According to a report released by the Inspector General for the Federal Housing Finance Agency, the answer is “very possibly.” 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]

FHFA's inspector general reports that Fannie and Freddie, which the US government took over in 2008 and bailed out to the tune of $187.5 billion, may need additional funds due to decline profits and capital cushions. [3/19/15]

Fannie Mae and Freddie Mac have reversed their policies and will now allow consumers to repurchase their foreclosed homes at market value. In order to reduce the number of vacant properties and to stabilize home values and neighborhoods, the agencies will permit these repurchases even if consumers owe more than the current value of their homes. [12/1/14]

NAFCU is urging the Federal Housing Finance Board to allow flexibility for Fannie Mae and Freddie Mac to determine how best to stabilize and improve their portfolio positions. In addition, any changes to the GSE’s enterprise housing goals for 2015 should not create obstacles to credit union access. [10/29/14]

According to NAFCU, the Federal Housing Finance Agency’s proposal to create a single security to be issued by Fannie Mae and Freddie Mac would reduce the training and compliance burden for credit unions that do business with the government-sponsored enterprises. NAFCU has further urged the agency to ensure that GSE securities currently held by credit unions not lose their marketability after the introduction of the single security. [10/15/14]

How are your after-employment IT access procedures? After one federal IT contractor was terminated, the Virginia man continued to use his credentials to crash a Fannie Mae website. He's been sentenced to three years of supervised release, 50 hours of community service and to pay $70K in restitution. [10/13/14]

Bank of America's lawyers are seeking to get a verdict that it misrepresented loan quality sold to Fannie Mae and Freddie Mac thrown out on the basis that the loans were well within industry standards and that the GSEs "received exactly what they paid for." [9/23/14]