GSEs

Legal experts say it is now more likely that the Supreme Court will strike down the single-director governance framework for Fannie Mae and Freddie Mac’s regulator.

In a letter to Director Mark Calabria, 17 organizations requested an additional 60 days to weigh in on the proposal meant to strengthen Fannie Mae and Freddie Mac's balance sheets post-conservatorship.

Multifamily borrowers with loans from Fannie Mae and Freddie Mac will get an extended break for coronavirus-related hardships if they continue to give their tenants relief as well.

Compared with the week prior, approximately 83,000 more loans from all investor types became forborne.

Nonbank servicers have been seeking more sources of cash since the coronavirus disrupted markets and elevated forbearance rates. These are some strategies they may be able to use.

The government-sponsored enterprises had been considering tightening counterparty requirements for nonbanks, but in light of COVID-19's spread, they've reconsidered that.

For banks with assets between $10 billion and $100 billion, the average exposure is 165% of capital.

The mortgage company will provide up to $17 million in forgiveness to settle charges that modifications it applied to distressed government-related loans were not in keeping with state servicing regulations.

Government-sponsored enterprise reform could be one hurdle to future innovation.

Whatever path Fannie Mae and Freddie Mac take, the Mortgage Bankers Association would like to see them preserve many of the changes they made while in government conservatorship.

The Consumer Financial Protection Bureau plans to change the definition of what constitutes a qualified mortgage from a 43% debt-to-income limit to a price-based threshold, and further extend a temporary exemption given to Fannie Mae and Freddie Mac.

Compared with the week prior, approximately 57,000 fewer loans from all investor types were forborne.

New Residential Investment Corp., fresh off a substantial first-quarter reduction of its asset holdings, is now planning to securitize the receivables on its $200 billion servicing portfolio of Fannie Mae-owned mortgages.

The language most frequently spoken by LEP consumers is Spanish, followed by Chinese, Vietnamese, Korean and Tagalog. The Federal Housing Finance Agency's online clearinghouse translates CARES Act forbearance information into these languages.

The FHFA and FHA both announced for the second time that they were delaying the freeze to protect borrowers and renters during the coronavirus pandemic.

The Federal Housing Finance Agency was supposed to finalize its original proposal this month, but will redraft it because it was drawn up before the coronavirus emerged as a concern.

As they prepare to exit government conservatorship, Fannie Mae and Freddie Mac have enlisted the investment banks to help them boost capital and evaluate market opportunities.

The agency flagged faulty risk management and other issues at the Federal Home Loan Bank of Des Moines and Federal Home Loan Bank of San Francisco in exams conducted last year.

The coronavirus pandemic brought more attention to the affordable housing issue and illuminated already vulnerable, low-income populations.

The measures extended by the Federal Housing Finance Agency include alternative methods used for certain appraisals and for verification of employment.