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FHFA Reports Delinquency Decline for Some Loans Backed by Fannie Mae and Freddie Mac

Jan
07

The Federal Housing Finance Agency (FHFA) reported in its third quarter 2012 Foreclosure Prevention Report that the number of loans backed by Fannie Mae and Freddie Mac in serious delinquency (loans delinquent for 90 or more days) has dropped below 1 million for the first time since the summer of 2009.  Loans delinquent by 60-plus days also declined; however,

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MCUA Urges FHFA to Ensure Credit Unions Have Access to Secondary Mortgage Market

Dec
10

On December 3, the Missouri Credit Union Association (MCUA) filed a comment letter with the Federal Housing Finance Agency (FHFA) regarding an agency white paper entitled “Building a New Infrastructure for the Secondary Mortgage Market.”  As the FHFA moves forw

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MCUA Opposes FHFA's Proposed Adjustment to G-Fees

Dec
03

The Missouri Credit Union Association (MCUA) filed a comment letter with the Federal Housing Finance Agency (FHFA) in response to its proposal to adjust the guarantee fees (g-fees) that Fannie Mae and Freddie Mac (the GSEs) charge for single-family mortgages in certain

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FHFA Fee Input Needed

Nov
16

FHFA Proposes Adjustment to State-Level Guarantee Fee Pricing

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CUNA Submits Letter to FHFA on Short Sale Guidance

Nov
07

The Federal Housing Finance Agency (FHFA) issued new short sale guidelines in August 2012, as part of its Servicing Alignment Initiative.  Under these guidelines, Fannie Mae and Freddie Mac will consolidate their existing short sale programs into one standard program effective November 1, 2012.  The new program will permit homeowners to sell their

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CFPB News and Updates - 11/5/2012

Nov
05

The following articles cover recent news and updates regarding the Consumer Financial Protection Bureau (CFPB).

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FHFA White Paper: Secondary Mortgage Market Infrastructure

Oct
09

On Thursday, October 4, 2012, the Federal Housing Finance Agency (FHFA) released a white paper entitled, “Building a New Infrastructure for the Secondary Mortgage Market.”  The white paper describes a framework for a new common securitization platform and a model Pooling and Servicing Agreement.  The FHFA seeks to identify the co

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FHFA, Fannie Mae & Freddie Mac Announce New Framework

Sep
17

On Tuesday, September 11, 2012, the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac are starting a new representation and warranty framework for conventional loans sold or delivered on or after January 1, 2013.  The new initiative, according to the FHFA, is aimed to clarify lenders’ repurchase exposure and liability on future loan deliveries.  Under the framework:

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Short Sales Requirements Effective November 1

Aug
27

Pending mortgage-servicing requirements that will consolidate and coordinate existing short sale programs into a single standard program could be beneficial to consumers and mortgage lenders but raise important questions, including for credit unions.

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FHFA Seeks Comment on Use of Eminent Domain

Aug
20

The Federal Housing Finance Agency (FHFA) called for comments on the use of eminent domain to restructure existing home loans.  Comments are due on September 7, 2012.  FHFA states in a recent press release that the agency has significant concerns about the use of eminent domain to revise existing financial contracts, and that action may be necessar

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