Legislation introduced in the last weeks of the 114th Congress would push Fannie Mae and Freddie Mac deeper into the risk-sharing pool, including forcing them into a front-end structure they have so far resisted. The “Taxpayer Protections and Market Access for Mortgage Finance Act of 2016” would require the Federal Housing Finance Agency to push the two government-sponsored enterprises to transfer at least 400 basis points of their total risk. While it’s not clear how the legislation intends this to be measured, it appears...
Fannie Mae and Freddie Mac will launch pilot programs to purchase personal loans tied to manufactured housing under the final duty-to-serve regulation released this week by the Federal Housing Finance Agency. The duty-to-serve requirement was mandated by Congress eight years ago but has never been implemented. The government-sponsored enterprises will devise three-year plans for serving low- and moderate income households in three underserved areas: manufactured housing, affordable housing preservation and rural housing. Like the annual affordable housing goals set for the GSEs, the duty-to-serve requirement does not include...
In other instances, the home price agreed upon by the buyer and seller might fall within market trends, but the appraiser might not have access to data to verify the value.
Chase, which often has wide swings in its monthly GSE activity, increased its Freddie issuance by 46.1 percent from October to November, while reducing its Fannie activity by 2.5 percent.
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