FHFA Proposes New Minimum Financial Requirements for Fannie Mae and Freddie Mac Seller/Servicers

A&B ABstract: A new Federal Housing Finance Agency policy brings clarity for mortgage servicers’ liquidity needs and provides a cap on servicer advancing obligations during the coronavirus pandemic. FHFA Clarification On April 21, 2020, the Federal Housing Finance Agency (FHFA) announced that it was aligning Fannie Mae’s and Freddie Mac’s policies so that servicers of Fannie […]

The post FHFA Limits Servicer Advancing Obligations for Loans in COVID-19 Forbearance appeared first on Alston & Bird Consumer Finance ABstract.

A&B Abstract: On August 10, 2022, the Federal Housing Finance Agency (“FHFA”) announced that Fannie Mae and Freddie Mac (the “GSEs”) will require mortgage servicers to obtain and maintain fair lending data on their loans, beginning March 1, 2023. That same day, Fannie Mae and Freddie Mac (the “GSEs”) each issued guidance implementing the FHFA […]

The post GSEs to Require Mortgage Servicers to Obtain and Maintain Fair Lending Data appeared first on Alston & Bird Consumer Finance ABstract.

Somehow, the qualified mortgage (QM) rules have become even more complicated. Our Financial Services & Products Group parses how the death of the QM Patch will affect creditors seeking to originate residential mortgage loans under Fannie Mae, Freddie Mac, or Consumer Financial Protection Bureau regulations.

Our Finance Group explains how a new Federal Housing Finance Agency policy brings clarity for mortgage servicers’ liquidity needs and provides a cap on servicer advancing obligations during the coronavirus pandemic.

What Happened? On June 26, Federal Housing Finance Agency (“FHFA”) Director William Pulte told Fannie Mae and Freddie Mac (the “government sponsored entities”) to draft policies that would consider a borrower’s cryptocurrency holdings as reserves or assets when qualifying for a mortgage, without requiring borrowers to convert those holdings into U.S. dollars, and cryptocurrencies under […]

The post FHFA Director Directs Fannie and Freddie to Consider Crypto Assets to Qualify for Mortgages appeared first on Of Interest.