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Statement on HOA Super-Priority Lien Foreclosures
Title 12 United States Code Section 4617(j)(3) states that, while the Federal Housing Finance Agency acts as Conservator, “[no] property of the Agency shall be subject to levy, attachment, garnishment, foreclosure, or sale without the consent of the Agency.” This law precludes involuntary...
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Statement of the Federal Housing Finance Agency on Certain Super-Priority Liens
PageContent Today, the Federal Housing Finance Agency (FHFA) is alerting homeowners, financial institutions, and state authorities of the agency’s concerns with state-level actions that threaten the first-lien status of single-family loans owned or guaranteed by Fannie Mae and Freddie Mac. In...
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FHFA Statement on the Housing Trust Fund and Capital Magnet Fund
The Federal Housing Finance Agency (FHFA) today directed Fannie Mae and Freddie Mac to begin setting aside and allocating funds to the Housing Trust Fund and the Capital Magnet Fund pursuant to the Housing and Economic Recovery Act of 2008 (HERA). HERA authorized FHFA to temporarily suspend these...
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Statement of FHFA Director Melvin L. Watt on Release of Guidelines for Purchase of Low Down Payment Mortgages
“The new lending guidelines released today by Fannie Mae and Freddie Mac will enable creditworthy borrowers who can afford a mortgage, but lack the resources to pay a substantial down payment plus closing costs, to get a mortgage with 3 percent down. These underwriting guidelines provide a...
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Statement of FHFA Director Melvin L. Watt on the Finalization of Life-of-Loan Representation and Warranty Exclusions
“The release of details today by Fannie Mae and Freddie Mac clarifying the definition of life-of-loan exclusions and when they apply is a positive step forward for housing finance. Concerns about when a mortgage loan might be subject to repurchase, along with other market factors, have contributed...
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Statement of FHFA Director Melvin L. Watt on the Selection of a CEO and Updates to the Governance Structure for Common Securitization Solutions
“Today, Fannie Mae and Freddie Mac (the Enterprises) announced several important steps in the multiyear process of developing the Common Securitization Platform (CSP), which will create a shared securitization infrastructure for both Enterprises. As detailed in our 2014 Strategic Plan for the...
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Statement of FHFA Director Melvin L. Watt on the Final Joint Agency Rule on Risk Retention
“Finalizing this rule represents a major step forward to providing greater certainty to the housing finance market and paves the way for increased participation by the private sector. Aligning the Qualified Residential Mortgage standard with the existing Qualified Mortgage definition also means more...
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Statement of FHFA Director Melvin L. Watt on FHLB Seattle and FHLB Des Moines Merger Agreement
PageContent “As the regulator of the Federal Home Loan Bank System, the role of the Federal Housing Finance Agency (FHFA) is to ensure that each Federal Home Loan Bank operates in a safe and sound manner and fulfills its statutory mission. Given the fundamental changes that have occurred in the...
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Statement of FHFA Director Melvin L. Watt on Potential Merger of FHLB Seattle and FHLB Des Moines
"As the safety and soundness regulator of the Federal Home Loan Bank System, the Federal Housing Finance Agency's role is to ensure that each Bank remains viable and fulfills its mission by supporting home mortgage lending and community investment throughout the United States. As the Federal Home...
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Statement of FHFA Director Mel Watt on Fannie Mae Direct Debt Risk-Sharing Transaction
PageContent "The Federal Housing Finance Agency (FHFA) is pleased that Fannie Mae is nearing completion of another Connecticut Avenue Securities or "C-deal" risk-sharing transaction. This and other risk-sharing transactions undertaken by Fannie Mae and Freddie Mac provide valuable insight as to how...