Authors Posts by 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
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Washington, DC 20552
Phone: (866) 796-5595

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

FHFA Announces Deputy Director of the Division of Federal Home Loan Bank Regulation

Washington, DC - April 12, 2013 - (RealEstateRama) -- Federal Housing Finance Agency (FHFA) Acting Director Edward J. DeMarco announced today the promotion of Fred C. Graham to be Deputy Director of the Division of Federal Home Loan Bank Regulation. Graham will oversee the regulation and supervision of the Federal Home Loan Banks.

Refinance Volume Remains Strong Through January

WASHINGTON, D.C. - April 9, 2013 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today released its January 2013 Refinance Report, which shows that refinance volume remained high through the first month of this year. There were nearly 470,000 refinances in January, with roughly 97,600 completed through the Home Affordable Refinance Program (HARP). This brings total HARP refinances to more than 2.2 million since the program’s inception in April 2009.

Federal Housing Finance Agency Reports Mortgage Interest Rates

Washington, DC - March 28, 2013 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some adjustable-rate mortgage (ARM) contracts, was 3.43 percent based on loans closed in February. There was an increase of 0.08 from the previous month.

FHFA Announces New Streamlined Modification Initiative

Washington, DC - March 27, 2013 - (RealEstateRama) - The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac will offer a new, simplified loan modification initiative to minimize losses and to help troubled borrowers avoid foreclosure and stay in their homes. Beginning July 1, servicers will be required to offer eligible borrowers who are at least 90 days delinquent on their mortgage an easy way to lower their monthly payments and modify their mortgage without requiring financial or hardship documentation.

Fannie Mae and Freddie Mac Help 2.7 Million with Foreclosure Prevention Actions

Washington, DC - March 27, 2013 - (RealEstateRama) - Fannie Mae and Freddie Mac completed more than 540,000 foreclosure prevention actions during 2012 with 130,000 in the fourth quarter alone. This brings the total foreclosure prevention actions to nearly 2.7 million since the start of conservatorship in 2008, including more than 1.3 million permanent loan modifications. These actions, which have helped more than 2.2 million borrowers stay in their homes, are detailed in the Federal Housing Finance Agency’s fourth quarter 2012 Foreclosure Prevention Report, also known as the Federal Property Manager’s Report.

Federal Housing Finance Agency Reports Mortgage Interest Rates

WASHINGTON, D.C. - February 26, 2013 - (RealEstateRama) -- The average interest rate on conventional, 30-year, fixed-rate mortgage loans of $417,000 or less increased 6 basis points to 3.53 in January. These rates are calculated from the FHFA’s Monthly Interest Rate Survey of purchase-money mortgages (see technical note).

HARP Refinances Reach 2Million

Washington, D.C. - February 18, 2013 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today released its November 2012 Refinance Report, which shows that Fannie Mae and Freddie Mac have reached a new milestone and refinanced more than 2 million loans through the Home Affordable Refinance Program (HARP). In November alone, nearly 130,000 homeowners refinanced their mortgage through HARP, making it the second biggest month in 2012.

DONOVAN AND DEMARCO ANNOUNCE EXTENDED FORECLOSURE RELIEF FOR HURRICANE SANDY STORM VICTIMS

WASHINGTON, DC - January 31, 2013 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan, who serves as President Obama’s Chairman of the Hurricane Sandy Rebuilding Task Force, and Federal Housing Finance Agency Acting Director Edward J. DeMarco today announced that the Federal Housing Administration (FHA), Fannie Mae, and Freddie Mac will extend expiring protections against foreclosure actions against homeowners whose properties were damaged or destroyed due to Hurricane Sandy.

Federal Housing Finance Agency Reports Mortgage Interest Rates

Washington, DC - January 29, 2013 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some adjustable-rate mortgage (ARM) contracts, was 3.29 percent based on loans closed in December. There was a decrease of 0.07 from the previous month.

FHFA Announces Deputy Director of Housing Mission and Goals and Deputy Director of Division...

Washington, DC - January 15, 2012 - (RealEstateRama) -- Federal Housing Finance Agency Acting Director Edward J. DeMarco today announced the appointment of Sandra Thompson as Deputy Director of the Division of Housing Mission and Goals. Thompson will oversee FHFA’s housing and regulatory policy, financial analysis, and policy research and analysis of housing finance and financial markets

Federal Housing Finance Agency Reports Mortgage Interest Rates

Washington, DC - December 27, 2012 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some adjustable-rate mortgage (ARM) contracts, was 3.36 percent based on loans closed in November. There was a decrease of 0.08 from the previous month. With data for February 2012, FHFA began calculating interest rates using un-weighted survey data.

FHFA House Price Index Up 0.5 Percent in October

Washington, DC - December 20, 2012 - (RealEstateRama) -- U.S. house prices rose 0.5 percent on a seasonally adjusted basis from September to October, according to the Federal Housing Finance Agency’s monthly House Price Index (HPI). The previously reported 0.2 percent increase in September was revised downward to a 0.0 percent change. For the 12 months ending in October, U.S. prices rose 5.6 percent. The U.S. index is 15.7 percent below its April 2007 peak and is roughly the same as the July 2004 index level.

Record Low Mortgage Rates Contribute to Strong HARP Volume Report Includes State-Level HARP Data

Washington, D.C. - December 20, 2012 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today released its October Refinance Report, which shows that Fannie Mae and Freddie Mac have refinanced more than 1.8 million loans through the Home Affordable Refinance Program (HARP) since the program began in 2009. In October, more than 81,000 homeowners refinanced their mortgage through HARP and 790,619 loans have been refinanced through HARP between January and October. The continued high volume of HARP refinances is attributed to record-low mortgage rates and program enhancements announced last year.

Deputy Director Stephen Cross to Retire from FHFA

Washington, DC - December 12, 2012 - (RealEstateRama) -- Federal Housing Finance Agency Acting Director Edward J. DeMarco today announced that Stephen Cross, FHFA’s Deputy Director of the Division of Federal Home Loan Bank Regulation, will retire from the Agency in March, 2013. An important part of FHFA’s leadership team since the Agency was created, Cross has served in the position since October 2008. In addition to leading FHFA’s program for regulating and supervising the Federal Home Loan Banks, Cross also served as the acting Chief Operating Officer from September 2009 to December 2011.

Maximum Conforming Loan Limits for Fannie Mae and Freddie Mac to Remain Unchanged in...

Washington, DC - November 29, 2012 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today announced that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2013 will remain at existing levels. In most of the country, the loan limit will be $417,000 for one-unit properties. The loan limits are established under the terms of the Housing and Economic Recovery Act of 2008 (HERA), and are calculated each year.

U.S. House Prices Rose 1.1 Percent in Third Quarter 2012

Washington, DC - November 29, 2012 - (RealEstateRama) -- U.S. house prices rose 1.1 percent from the second quarter to the third quarter of 2012 according to the Federal Housing Finance Agency’s (FHFA) seasonally adjusted purchase-only house price index (HPI). The HPI is calculated using home sales price information from Fannie Mae and Freddie Mac mortgages. Seasonally adjusted house prices rose 4.0 percent from the third quarter of 2011 to the third quarter of 2012. FHFA’s seasonally adjusted monthly index for September was up 0.2 percent from August.

HARP Enhancements Continue to Bolster Program

Washington, D.C. - November 29, 2012 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today released its September Refinance Report, which shows that Fannie Mae and Freddie Mac loans refinanced through the Home Affordable Refinance Program (HARP) accounted for nearly one-quarter of all refinances in the third quarter of 2012. More than 90,000 homeowners refinanced their mortgage in September through HARP with more than 709,000 loans refinanced since the beginning of this year. The continued high volume of HARP refinances is attributed to record-low mortgage rates and program enhancements announced last year.

Federal Housing Finance Agency Reports Mortgage Interest Rates

Washington, DC - November 29, 2012 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some adjustable-rate mortgage (ARM) contracts, was 3.44 percent based on loans closed in October. There was a decrease of 0.12 from the previous month. In March of 2012, FHFA began calculating interest rates using un-weighted survey data.

FHFA Statement on REO Pilot Transactions

WASHINGTON, D.C. - November 2, 2012 - (RealEstateRama) -- "The Federal Housing Finance Agency (FHFA) is encouraged by the results of Fannie Mae's first Real Estate Owned (REO) pilot transactions and remains committed to pursuing efforts that build upon the success of this initiative. This is in keeping with FHFA’s Strategic Plan for the Enterprise Conservatorships which called for implementation of the REO initiative and creative strategies for placing foreclosed homes back into the marketplace in order to reduce losses

FHFA and CFPB Partner on Development of National Mortgage Database

Initiative will help streamline disparate datasets and support regulators’ efforts to monitor the market WASHINGTON, D.C. - November 2, 2012 - (RealEstateRama) -- The...

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