The bulk of Fannie Mae’s and Freddie Mac’s prevention actions were aimed at home retention, with 20,370 loans modified, repayment plans negotiated on 5,965 delinquent loans and 3,328 units receiving some sort of forbearance.
To make sure property markets aren’t creating excessive systemic risk, it’s important for regulators to look at the issue broadly, said FHFA’s Mark Calabria. That’s where an activities-based approach is critical.
FHFA Director Mark Calabria walked back the idea of using a consent decree as part of the agency’s plan to recap and release Fannie and Freddie from conservatorship.
The proposed rule seeks to modify the minimum thresholds, frequency and number of scenarios required to bring the stress test rule for regulated entities in line with new rules that apply to other financial institutions.
Federal regulators have issued a request for comment on a review of credit risk-retention standards tied to the qualified mortgage “patch” and exemptions for community-focused and three- to four-unit mortgages.
A new report allays concerns that a recent request for input from the regulator regarding pooling practices was an indication that something was amiss.
The NPL sold by the enterprises had an average delinquency of three years and a loan-to-value ratio of 92%. Fannie accounted for 78,281, or two-thirds, of these sales between Jan. 1 and June 30.