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FHFA, Fannie Mae and Freddie Mac Announce HARP Changes to Reach More Borrowers
Washington, D.C. – The Federal Housing Finance Agency, with Fannie Mae and Freddie Mac (the Enterprises), today announced a series of changes to the Home Affordable Refinance Program (HARP) in an effort to attract more eligible borrowers who can benefit from refinancing their home mortgage. The...
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FHFA Directs Fannie Mae and Freddie Mac to Adopt Uniform Improvements to Foreclosure Attorney Networks
Washington, D.C. – The Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to transition away from current foreclosure attorney network programs and move to a system where mortgage servicers select qualified law firms that meet certain minimum, uniform criteria. Under...
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Joint Initiative Seeks Public Comment on Alternative Mortgage Servicing Compensation; Releases Discussion Paper
PageContent Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced that the Joint Initiative on Mortgage Servicing Compensation is seeking public comment on two alternative mortgage servicing compensation structures detailed in a discussion paper. In January, FHFA directed...
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FHFA Reports Mortgage Interest Rates, August 2011
Washington, D.C. – The Federal Housing Finance Agency 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 ARM contracts, was 4.56 percent based on loans closed in August. This is a decrease of 0...
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FHFA Reports Fannie Mae and Freddie Mac Guarantee Fees Increased in 2009-2010
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its third annual report on guarantee fees (g-fees) charged by Fannie Mae and Freddie Mac (the Enterprises), concluding that the average "g-fee" on single-family mortgages increased in 2010 relative to 2009, from 22 basis...
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FHFA House Price Index Up 0.8 Percent in July
Washington, D.C. – U.S. house prices rose 0.8 percent on a seasonally adjusted basis from June to July, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.9 percent increase in June was revised to a 0.7 percent increase. For the 12 months ending in...
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FHFA Sues 17 Firms to Recover Losses to Fannie Mae and Freddie Mac
Washington, D.C. – The Federal Housing Finance Agency (FHFA), as conservator for Fannie Mae and Freddie Mac (the Enterprises), today filed lawsuits against 17 financial institutions, certain of their officers and various unaffiliated lead underwriters. The suits allege violations of federal...
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Fannie Mae and Freddie Mac Foreclosure Prevention Actions Down in Second Quarter
Washington, D.C. – Fannie Mae and Freddie Mac (the Enterprises) have completed nearly 1.8 million foreclosure prevention actions since the beginning of conservatorship in the fourth quarter of 2008. More than half of these actions resulted in loan modifications. According to the Federal Housing...
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FHFA Reports Mortgage Interest Rates, July 2011
Washington, D.C. – The Federal Housing Finance Agency 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 ARM contracts, was 4.57 percent based on loans closed in July. This is a decrease of 0.05...
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House Prices Fall 0.6 Percent in Second Quarter 2011
Washington, D.C. – U.S. house prices were 0.6 percent lower in the second quarter than in the first quarter of 2011 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...