The Federal Housing Finance Agency has issued a request for information seeking industry comment on the GSEs’ plans to support underserved communities under their duty-to-serve obligations.
Among the questions raised is should FHFA continue to focus on how much liquidity FHLBanks provide for housing and community development or are there other components to FHLBank operations that deserve more attention.
In an effort to reduce closing costs for low-income and first-time homebuyers, Freddie will now allow lenders to replace title insurance with attorney opinion letters in all but one state.
Freddie’s head of single-family acquisitions said programs, such as DPA One, BorrowSmart and HeritageOne, have helped the GSE lower closing costs and expand access to mortgage credit.
Freddie Mac’s new $2,500 credit for buyers earning less than 50% of area median income closely resembles an initiative announced last month by Fannie Mae.