Comments are being vetted regarding a proposed survey to collect information from borrowers in the second quarter of 2016 that will be used in a report highlighting the GSEs’ mortgage activities. The Federal Housing Finance Agency’s American Survey of Existing Borrowers, formerly referred to as the National Survey of Existing Mortgage Borrowers, has drawn a some criticism from trade groups concerned about privacy violations. The survey questionnaire, a component of the larger National Mortgage Database project, will include about 90 questions designed to gather information from borrows about their mortgage experience and possible challenges. The NMDB is a multi-year joint effort between the FHFA and the Consumer Financial Protection Bureau.
As manufactured housing advocates continue to push for chattel lending, the Federal Housing Finance Agency is weighing whether it will allow the loans that are based on financing the home itself rather than the real estate property. The topic made a strong showing in the FHFA’s recent request for comment in which questions about serving the manufactured housing industry were included under its duty-to-serve proposed rule. One of the questions specifically focused on whether a pilot program should be developed that would allow chattel loans. Many commenters said Fannie Mac and Freddie Mac should increase their support for the manufactured housing industry and that includes creating a market for chattel lending.
Fannie Launches Marketing Center. Fannie Mae’s new Marketing Center, introduced this week, is a free online tool providing lenders and other housing professionals access to a variety of customizable marketing materials including HomeReady mortgage, HARP, and more. Freddie’s Second ACIS CTR of 2016: Freddie Mac announced its latest ACIS credit risk transaction, which is its second for 2016. This new transaction provides credit loss protection up to a combined maximum limit of approximately $336 million of losses on single-family loans. White House GSE Advisor Steps Down. White House senior policy advisor on housing and GSE issues Michael Stegman is expected to step down from his post sometime this week, according to industry sources.
Jim Picard, vice president of Denali Home Loans in Alaska, said that so far this quarter, his firm’s volume is up almost 13 percent compared to the year ago period.
RSS