A coalition of more than two dozen affordable and fair housing advocacy groups urged FHFA and HUD to reverse course on staffing cuts and program eliminations.
House Democrat Susie Lee of Nevada wants some answers about how many foreclosed homes in her state are bought by well-heeled investors from other places and how that affects the availability of affordable housing.
Speaking at the MBA’s secondary and capital markets conference this week, Fannie and Freddie executives appeared to tailor their remarks to address the priorities of the new FHFA director.
Fannie’s Desktop Underwriter and Freddie’s Loan Product Advisor were both updated to include FHFA’s 2025 area median income figures. The changes affect eligibility for duty-to-serve and affordable housing programs.
NAMB has urged FHFA to end the GSEs’ use of LLPAs targeting second homes and investment properties and to lower the AMI threshold for borrowers to qualify for affordable housing programs.
CFPB researchers determined that, although loans for second homes declined after FHFA imposed steep fees on those loan types, the expected increase in primary-residence loans never materialized.
Smaller shops may support an end to the GSE conservatorships, but only if it’s done in a way that preserves pricing parity, avoids additional charters and maintains the cash window.
FHFA’s ban on the GSEs’ use of special purpose credit programs doesn’t appear to apply to HomeReady or Home Possible, neither of which has a racial or ethnic requirement.
FHFA under the leadership of Bill Pulte has rescinded, deleted or closed at least eight agency directives without providing notice on the agency’s website or announcing the changes in a press release.
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