Washington, D.C. – The Federal Housing Finance Agency (FHFA) today proposed new minimum financial eligibility requirements for Fannie Mae and Freddie Mac Seller/Servicers. These newly proposed eligibility requirements align the minimum financial requirements for mortgage Seller/Servicers to do business with Fannie Mae and Freddie Mac (the Enterprises). The proposed minimum financial requirements include net worth, capital ratio and liquidity criteria for the Enterprises’ Seller/Servicers.
The proposed minimum financial requirements ensure the safe and sound operation of the Enterprises and further FHFA’s goal of fostering liquid, efficient, competitive and resilient national housing finance markets. FHFA is releasing the proposed criteria to provide greater transparency, clarity and consistency to industry participants and other stakeholders. FHFA and the Enterprises will engage with servicing industry participants, regulators and other stakeholders to obtain their feedback and improve their understanding.
After reviewing industry and stakeholder feedback, FHFA anticipates finalizing these requirements in the second quarter of 2015, and anticipates that the requirements will be effective six months after they are finalized.
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Contacts:
Stefanie Johnson (202) 649-3030 / Corinne Russell (202) 649-3032