FHFA

The Financial Stability Oversight Council said the mortgage giants may need a bigger capital cushion than their regulator has proposed, but stopped short of designating them as “systemically important financial institutions.”

Twelve people were charged in a scheme regarding the creation of 100 fraudulent mortgages in Georgia, according to the HUD inspector general.

Mortgage rates remained relatively flat, rising a single basis point off of last week's record low, according to Freddie Mac.

Fannie Mae and Freddie Mac have been slammed for planning an additional refinancing charge to cover COVID-related losses, but the head of the Federal Housing Finance Agency defended the policy in House testimony.

After being approved, retroactively denied and having a second application rejected, the firm is appealing the decision with federal regulators.

After flattening over the three prior weeks, the number of loans going into coronavirus-related forbearance dove at a rate not seen since early August, according to the Mortgage Bankers Association.

The GSEs began sharing their risk with the private market in new ways during conservatorship, and the Federal Housing Finance Agency’s proposed capital framework currently discourages the use of those strategies. Industry leaders voiced concerns in a FHFA listening session this week.

The Federal Housing Finance Agency's proposal could undermine the companies’ mission to support the housing market and penalize consumers in underserved communities, industry and consumer groups say.

The pandemic drives home the point that without those funds being siphoned off, the recent fee hikes would not be necessary.

Following its deadline for written comments on the topic last month, the Federal Housing Finance Agency is scheduling events that will focus on two key themes emerging in responses.