Federal regulators are initiating a joint study to see how well the Mortgage Partnership Finance program, which was created by the Federal Home Loan Banks five years ago, is doing at funding affordable housing loans.The Federal Housing Finance Board and the Department of Housing and Urban Development are conducting the joint study to see how the MPF program scores under the affordable housing goals that HUD sets for Fannie Mae and Freddie Mac. The study is mandated by Finance Board regulations that authorized the Chicago FHLBank to start purchasing single-family mortgages from member banks and thrifts. "We are just in the early stages of doing that study," Finance Board member Allan Mendelowitz told a conference on government-sponsored enterprises and community development. He said he does not want to prejudge the findings. But he indicated that the report will address the issue of whether the Finance Board should set AH goals for the MPF program.
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McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
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The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18