FHFA Expands Mortgage Translations Online Clearinghouse

A&B Abstract: On June 21, the Consumer Financial Protection Bureau (CFPB), along with five federal regulatory agencies (Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), and Federal Housing Finance Agency (FHFA) (the “Agencies”), published for public […]

The post CFPB and Federal Agencies Seek Comment on Proposed Automated Valuation Models Rule 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.

A&B Abstract: On April 23, 2020, the attorneys general of 33 states, the District of Columbia and Puerto Rico (the “Attorneys General”) sent two letters, one to the Federal Housing Finance Agency (“FHFA”) and the other to the U.S. Department of Housing and Urban Development (“HUD” and collectively with FHFA, the “Agencies”), respectively, noting that […]

The post Attorneys General Urge FHFA and HUD to Take Additional Measures to Protect Borrowers Affected by COVID-19 appeared first on Alston & Bird Consumer Finance ABstract.

A&B ABstract: On April 27, the FHFA provided clarification on the repayment of mortgage loan forbearance granted in response to the COVID-19 pandemic. FHFA Announcement On April 27, Federal Housing Finance Agency (“FHFA”) Director Mark Calabria clarified that borrowers who have a GSE-backed mortgage will not be required to make a lump sum repayment at […]

The post FHFA Clarifies Repayment Requirements for GSE Forbearance Plans appeared first on Alston & Bird Consumer Finance ABstract.

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.