The Federal Housing Finance Agency (FHFA) has announced the first pilot transaction under the Real Estate-Owned (REO) Initiative, targeted to some of the hardest-hit metropolitan areas in Atlanta, Chicago, Las Vegas, Los Angeles, Phoenix and parts of Florida. With this next step, pre-qualified … [Read more...]
A Call to Action – FHFA’s Strategic Plan for Fannie Mae and Freddie Mac
February 22, 2012 by
Posted To: Voice of Housing Yesterday the Federal Housing Finance Agency (FHFA) issued to Congress its Strategic Plan for Fannie Mae and Freddie Mac Conservatorships. More: A Call to Action - FHFA’s Strategic Plan for Fannie Mae and Freddie Mac … [Read more...]
FHFA Sends Congress Strategic Plan for GSEs
February 21, 2012 by
Posted To: MND NewsWire The Federal Housing Finance Agency (FHFA) said Tuesday that, with its conservatorship of Fannie Mae and Freddie Mac (the Enterprises) now in operation for more than three years "and no near-term resolution in sight," it was time to assess its goals and directions. In a letter … [Read more...]
California Earns $18 Billion Share of Nationwide Mortgage Settlement
February 13, 2012 by
California Attorney General Kamala D. Harris has announced an historic commitment to California of up to $18 billion that will benefit hundreds of thousands of homeowners in the state hardest hit by the mortgage crisis. California secured the $18 billion agreement as part of a national multistate … [Read more...]
Bernanke: Tight Underwriting Major Roadblock to U.S. Housing Recovery
February 10, 2012 by
Restraints on credit for homebuyers and home builders alike continue to impede the housing and economic recovery, Federal Reserve Chairman Ben Bernanke said in an address to the National Association of Home Builders (NAHB) Board of Directors in Orlando. The Fed chairman said that his message to … [Read more...]
Commercial/Multifamily Originations Experience Seven Percent Quarterly Drop
February 7, 2012 by
Commercial/multifamily originations during the fourth quarter of 2011 were up 13 percent over the fourth quarter of 2010, but fell seven percent from the third quarter of 2011, according to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers … [Read more...]
FHFA Takes First Step in Its REO Pilot Initiative
February 1, 2012 by
The Federal Housing Finance Agency (FHFA) has announced the first step of a Real Estate-Owned (REO) Initiative targeted to the hardest-hit metropolitan areas nationwide. Investors interested in participating may “pre-qualify” to establish eligibility to bid on transactions in the initial pilot … [Read more...]
Government Triples Payout to Servicers for Principal Reduction Under Revamp of HAMP
January 27, 2012 by
The Obama Administration has announced additional enhancements to the Making Home Affordable Program, including the Home Affordable Modification Program (HAMP). More: Government Triples Payout to Servicers for Principal Reduction Under Revamp of HAMP … [Read more...]
Fannie Mae Issues $7.2 Billion in Multifamily MBS in Q4
January 24, 2012 by
Fannie Mae has announced that the company issued $7.2 billion multifamily mortgage-backed securities (MBS) in the fourth quarter of 2011, the highest quarterly issuance since Fannie Mae began reinvigorating its multifamily MBS business in 2009. Total new issuance for 2011 was $23.8 billion, up from … [Read more...]