Sen. Elizabeth Warren, D-MA, has called for a significant increase in the FHLBanks’ required contribution to affordable housing. She also urged FHFA to change the membership eligibility requirements to encourage more housing and community development activities.
Freddie Mac CFO Christian Lown informed the board last week that he will step down at the end of this month. No reason was given for his departure, which was announced quietly via an SEC filing.
The Federal Housing Finance Agency has issued a request for information seeking industry comment on the GSEs’ plans to support underserved communities under their duty-to-serve obligations.
Fannie Mae said the new Uniform Residential Appraisal Report will depend on six new property characteristics data points to let users know what information to provide.
Naa Awaa Tagoe, deputy director for housing mission and goals at FHFA, waded through some of the agency’s most recent controversies at the MBA’s secondary market conference.
Many trade groups denounced Freddie’s plan to buy second liens, saying key details were lacking. There are also concerns that Freddie’s effort will simply cannibalize an otherwise healthy and liquid non-agency market for second liens.
Fannie Mae and Freddie Mac this week announced enhancements to their flex modification programs. The primary aim is to ensure that modifications result in a 20% reduction in P&I payments.
A new advisory bulletin from the FHFA will require the GSEs to come up with comprehensive, actionable plans to deal with the impacts of climate change on housing finance.
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