Authors Posts by FHFA

FHFA

The Federal Housing Finance Agency (FHFA) was created on July 30, 2008, when the President signed into law the Housing and Economic Recovery Act of 2008.  The Act created a world-class, empowered regulator with all of the authorities necessary to oversee vital components of our country’s secondary mortgage markets – Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.  In addition, this law combined the staffs of the Office of Federal Housing Enterprise Oversight (OFHEO), the Federal Housing Finance Board (FHFB), and the GSE mission office at the Department of Housing and Urban Development (HUD).

Contact:

1700 G Street, NW
4th Floor
Washington, DC 20552
Phone: (866) 796-5595

Corinne Russell
(202) 414-6921
Stefanie Mullin
(202) 414-6376

Fannie Mae and Freddie Mac Foreclosure Prevention Actions Top 3.1Million

WASHINGTON, D.C. - April 3, 2014 - (RealEstateRama) -- Fannie Mae and Freddie Mac have completed more than 3.1 million foreclosure prevention actions since the start of conservatorship in 2008. These actions have helped more than 2.5 million borrowers stay in their homes, including nearly 1.6 million who received permanent loan modifications. During 2013, Fannie Mae and Freddie Mac completed nearly 448,000 foreclosure prevention actions, 99,700 of these in the fourth quarter. The majority of these allowed troubled borrowers to save their homes. The results are detailed in the Federal Housing Finance Agency’s fourth quarter 2013 Foreclosure Prevention Report, also known as the Federal Property Manager’s Report

FHFA Announces $9.3 Billion Settlement With Bank of America Corporation;

WASHINGTON, D.C. - March 27, 2014 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, today announced it has reached a settlement in cases involving Bank of America, Countrywide Financial, Merrill Lynch, and certain named individuals totaling approximately $5.83 billion. Bank of America Corporation owns Countrywide and Merrill Lynch. The cases alleged violations of federal and state securities laws in connection with private-label, residential mortgage-backed securities (PLS) purchased by Fannie Mae and Freddie Mac between 2005 and 2007. Allegations of common law fraud were made in the Countrywide and Merrill Lynch cases

FHFA Index Shows Mortgage Interest Rates Decrease Slightly in February

WASHINGTON, D.C. - March 27, 2014 - (RealEstateRama) -- National data shows interest rates on mortgages decreased in February. Contract mortgage interest rates decreased 0.07 percent from January to February, according to an index of new mortgage contracts

FHFA House Price Index Up 0.5 Percent in January

WASHINGTON, D.C. - March 25, 2014 - (RealEstateRama) -- U.S. house prices rose in January, with an increase of 0.5 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency (FHFA) monthly House Price Index (HPI). The seasonally adjusted purchase-only index for the U.S. has shown increases for 23 of the last 24 months, beginning with February 2012.

Agencies Issue Proposed Rule on Minimum Requirements for Appraisal Management Companies

WASHINGTON, D.C. - March 24, 2014 - (RealEstateRama) -- Six agencies today issued a proposed rule that would implement minimum requirements for state registration and supervision of appraisal management companies (AMCs). An AMC is an entity that serves as an intermediary between appraisers and lenders and provides appraisal management services.

Federal Housing Finance Agency Announces Departure of Edward J. DeMarco

WASHINGTON, D.C. - March 24, 2014 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today announced that Edward J. DeMarco will depart the Agency at the end of April.

FHFA Announces $1.2 5 B illion Settlement W ith Morgan Stanley

WASHINGTON, D.C. - February 10, 2014 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, today announced it has reached a settlement with Morgan Stanley, related companies and specifically named individuals for $1.25 billion. The settlement resolves claims in the lawsuit FHFA v. Morgan Stanley, et al. in the U.S. District Court of the Southern District of New York. The settlement addresses claims alleging violations of federal and state securities laws and common law fraud in connection with private-label mortgage-backed securities (PLS) purchased by Fannie Mae and Freddie Mac between 2005 and 2007.

Federal Housing Finance Agency Director Mel Watt Announces Four Staff Appointments

Washington, DC - January 10, 2013 - (RealEstateRama) -- Mel Watt, who was sworn in on January 6, 2014 as Director of the Federal Housing Finance Agency, today announced the appointment of four special advisors —Megan Moore, Bob Ryan, Eric Stein and Mario Ugoletti — to provide counsel on policy and strategic decisions at the FHFA.

U.S. Representative Melvin L. Watt Sworn in as Director of Federal Housing Finance Agency

Washington, DC - January 6, 2013 - (RealEstateRama) -- The Honorable Melvin L. Watt of Charlotte, North Carolina was sworn in today to a five-year term as the first Senate-confirmed Director of the Federal Housing Finance Agency (FHFA). The oath was administered by The Honorable Anthony Foxx, U.S. Secretary of Transportation and former mayor of Charlotte, NC. FHFA was created by the Housing and Economic Recovery Act of 2008 to oversee Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks and is responsible for oversight of the $5.5 trillion mortgage finance market.

FHFA Index Shows Mortgage Interest Rates Decrease in November

Washington, DC - December 25, 2013 - (RealEstateRama) -- National data show interest rates on mortgages declined in November. Contract mortgage interest rates decreased 0.10 percent from October to November, according to an index of new mortgage contracts

FHFA Announces Milestone: More Than 3 Million Homeowners Helped by Foreclosure Prevention Programs

WASHINGTON, D.C. - December 24, 2013 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac have reached a significant milestone, completing more than 3 million foreclosure prevention actions since the start of conservatorship in September 2008. FHFA noted this milestone in its third quarter Foreclosure Prevention Report (also known as the Federal Property Manager’s Report), which details results of foreclosure prevention programs.

FHFA Issues Scenarios and Guidance to FannieMae, Freddie Mac and the Federal Home Loan...

Washington, D.C. - December 16, 2013 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today sent a Notice to the Federal Register concerning Orders issued to Fannie Mae, Freddie Mac and the twelve Federal Home Loan Banks (the regulated entities) requiring reporting of annual stress testing results. The Orders, which include the stress test scenarios, were issued on November 26, 2013 under FHFA’s final stress testing rule. The stress tests, required by the Dodd-Frank Act, are designed to determine whether the regulated entities have the capital necessary to absorb losses as a result of adverse economic conditions. FHFA also issued Summary Instructions and Guidance including revised templates the regulated entities will use to report the results of the testing.

FHFA Releases 2013 Performance and Accountability Report

WASHINGTON, D.C. - December 17, 2013 - (RealEstateRama) -- Federal Housing Finance Agency (FHFA) Acting Director Edward J. DeMarco today released FHFA’s 2013 Performance and Accountability Report (PAR) detailing the Agency’s progress as regulator and conservator of Fannie Mae and Freddie Mac (the Enterprises) and regulator of the 12 Federal Home Loan Banks (FHLBs). The PAR discusses accomplishments, ongoing efforts to assist homeowners, challenges and continued efforts to meet FHFA’s strategic goals for FY 2013

FHFA Takes Further Steps to Advance Conservatorship Strategic Plan by Announcing an Increase in...

WASHINGTON, D.C. - December 10, 2013 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today took additional steps toward fulfilling the Strategic Plan for Enterprise Conservatorships that FHFA published in February 2012. That Plan established a conservator goal of gradually contracting Freddie Mac and Fannie Mae’s dominant presence in the marketplace while simplifying and shrinking their operations. The basic premise behind the “contract” goal is that with an uncertain future and a general desire for private capital to re-enter the market, the companies’ market presence should be reduced gradually over time.

FHFA Announces Overhaul of Fannie Mae and Freddie Mac Mortgage Insurance Master Policy Requirements

Washington, DC - December 2, 2013 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac have completed the first major overhaul of mortgage insurance master policy requirements in many years. FHFA’s 2013 Conservatorship Scorecard calls for Fannie Mae and Freddie Mac to develop aligned requirements for master policies

FHFA Index Shows Mortgage Interest Rates Decrease in October

WASHINGTON, D.C. - November 26, 2013 - (RealEstateRama) -- National data show interest rates on mortgages interrupted their upward trend. Contract mortgage interest rates decreased 0.04 percent from September to October, according to an index of new mortgage contracts

U.S. House Prices Rose 2.0 Percent in Third Quarter 2013

WASHINGTON, D.C. - November 26, 2013 - (RealEstateRama) -- Upward momentum in U.S. house prices remained strong in the third quarter, as prices rose 2.0 percent from the previous quarter, according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). This is the ninth consecutive quarterly price increase in the purchase-only, seasonally adjusted index and it marks the first time since 2009 that the national house price level is higher than it was five years ago.

FHFA Announces Fannie Mae and Freddie Mac Conforming Loan Limits for 2014

WASHINGTON, D.C. - November 26, 2013 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today announced that the 2014 maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac will remain at $417,000 for one-unit properties in most areas of the country.

FHFA Directs Fannie Mae and Freddie Mac to Restrict Lender-Placed Insurance Practices

Washington, DC - November 5, 2013 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) announced today that it has directed Fannie Mae and...

FHFA Index Shows Mortgage Interest Rates Continue to Rise in September

Washington, DC - October 30, 2013 - (RealEstateRama) -- National data show interest rates on mortgages continued their upward trend. Contract mortgage interest rates increased 0.11 percent from August to September, according to an index of new mortgage contracts.

FHFA Announces Significant Steps in Organization of Joint Venture to Establish Common Securitization Platform

WASHINGTON, D.C. - October 8, 2013 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) announced today that the joint venture between Fannie Mae and Freddie Mac that will build and operate a new common securitization platform has reached some important milestones. A Certificate of Formation has been filed with the Secretary of State of the State of Delaware, establishing Common Securitization Solutions, LLC? (CSS) as a limited liability company. This establishes CSS as a legally recognized entity and marks an important step in creating the joint venture, which is an equally-owned subsidiary of Fannie Mae and Freddie Mac

Fannie Mae and Freddie Mac Foreclosure Prevention Actions Top 2.9 Million

WASHINGTON, D.C. - October 7, 2013 - (RealEstateRama) -- Fannie Mae and Freddie Mac have completed more than 2.9 million foreclosure prevention actions since the start of conservatorship in 2008. These actions have helped approximately 2.4 million borrowers stay in their homes, including more than 1.4 million who received permanent loan modifications. During the first half of 2013, Fannie Mae and Freddie Mac completed more than 247,000 foreclosure prevention actions, 117,000 of these in the second quarter. The majority of these allowed troubled borrowers to save their homes. The results are detailed in the Federal Housing Finance Agency’s second quarter 2013 Foreclosure Prevention Report, also known as the Federal Property Manager’s Report

FHFA House Price Index Up 1.0 Percent in July

WASHINGTON, D.C. - September 26, 2013 - (RealEstateRama) -- U.S. house price appreciation continued in July 2013, rising 1.0 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency (FHFA) monthly House Price Index (HPI). The July HPI change marks the eighteenth consecutive monthly price increase in the purchase-only, seasonally adjusted index. The previously reported 0.7 percent increase in June remained unchanged.

FHFA Index Shows Mortgage Interest Rates Continue to Rise in August

WASHINGTON, D.C. - September 26, 2013 - (RealEstateRama) -- National data show interest rates on mortgages continued their upward trend. Contract mortgage interest rates increased 0.25 percent from July to August, according to an index of new mortgage contracts

FHFA Launches National Education Campaign

WASHINGTON, D.C. - September 23, 2013 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today launched a nationwide campaign to inform homeowners about the Home Affordable Refinance Program (HARP). The campaign is designed to encourage homeowners who have been making their mortgage payments, but who owe more than their home is worth, to contact their current lender or any other mortgage lender offering HARP refinances to review their refinancing options. With mortgage rates still historically low and HARP eligibility requirements expanded, qualifying homeowners could reduce their monthly mortgage payments or increase their equity faster with a shorter term mortgage

FHFA Launches Quarterly Report on Fannie Mae, Freddie Mac and Federal Home Loan Banks...

WASHINGTON, D.C. - September 19, 2013 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) is expanding the agency’s regular reporting on Fannie Mae, Freddie Mac and the Federal Home Loan Banks (FHLBanks). The new FHFA Quarterly Performance Report of the Housing GSEs provides a summary of data available in Fannie Mae, Freddie Mac and the FHLBanks’ individual public filings, including some combined trends. The first issue, being released today, covers the second quarter of 2013 and includes key market drivers such as house prices, average interest rates, and swap rates

FHFA Index Shows Mortgage Interest Rates Rose Sharply in July

Washington, DC - August 29, 2013 - (RealEstateRama) -- National data show interest rates on mortgages continued their upward trend. Contract mortgage interest rates increased 0.45 percent from June to July, according to an index of new mortgage contracts

FHFA Releases New Working Paper Analyzing the Effect of Distressed Sales on the FHFA...

WASHINGTON, D.C. - August 13, 2013 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today released a Working Paper that evaluates the impact of distressed sales—sales of bank-owned properties and short sales—on the FHFA house price index (HPI).

FHFA Index Shows Mortgage Interest Rates Climbing in June

Washington, DC - July 31, 2013 - (RealEstateRama) -- National data show interest rates on mortgages continued their upward trend. Contract mortgage interest rates increased from May to June—up 0.15 percent from May, according to an index of new mortgage contracts

FHFA House Price Index Up 0.7 Percent in May

WASHINGTON, D.C. - July 23, 2013 - (RealEstateRama) -- U.S. house price appreciation continued in May 2013, rising 0.7 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency (FHFA) monthly House Price Index (HPI). The May HPI change marks the sixteenth consecutive monthly price increase in the purchase-only, seasonally adjusted index.

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