Newsroom
FHFA Extends Deadline for Public Comment on GSE Chattel Loan Pilots
Earlier today, the Federal Housing Finance Agency (FHFA) announced that it would extend the comment period for public input regarding Fannie Mae and Freddie Mac pilot initiatives that promote financing for manufactured housing loans titled as personal property, or chattel loans. The extension moves the deadline for public input from February 17, 2017 to March 21, 2017.
President Trump Signs Executive Order Calling for Review of Federal Financial Regulations
On Friday, February 3, President Trump signed an Executive Order directing the Secretary of Treasury to review all current federal regulations pertaining to the nation's financial system. The Order also outlines six principles that the Administration will use when reviewing and shaping its financial policy.
FHFA Seeks Public Comment on GSE Chattel Loan Pilots
The Federal Housing Finance Agency (FHFA) last week published a request for public input on possible Fannie Mae and Freddie Mac pilot programs that support financing for manufactured housing loan titled as real property, known as chattel loans. This request is being issued as part of FHFA’s implementation of its Enterprise Duty to Serve Rule.
Senate Banking Committee Unanimously Approves Carson for HUD Secretary
The Senate Banking Committee earlier today voted unanimously to favorably report Dr. Ben Carson’s nomination to serve as Secretary for Housing and Urban Development. Carson’s nomination will now be referred to the full Senate for consideration. It is not yet known when the Senate will take up his nomination.
FHFA Releases Proposed Evaluation Guidance for GSEs’ Duty to Serve Plans
The Federal Housing Finance Agency (FHFA) recently published proposed Evaluation Guidance that outlines FHFA’s expectations for how the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac will develop their plans to fulfill their obligations under the “Duty to Serve” rule. The guidance also describes the evaluative process FHFA will use to determine whether each GSE has met the objectives of its Duty to Serve plan.
FHA Suspends Scheduled Premium Reductions
In one of the first policy actions taken by President Trump’s new Administration after he was sworn in, the Federal Housing Administration (FHA) on Friday published a Mortgagee Letter (ML-2017-07) that cancels a scheduled reduction in the annual mortgage insurance premium FHA charges for most single-family mortgages it insures. The reduction, which HUD announced January 9, was set to take effect on January 27 and would have reduced most premiums by .25 percent (see previous blog post for more information).
HUD Issues Interim Fair Housing Guidance Pending Issuance of Final Fair Housing Assessment Tools
On January 19, HUD published interim guidance on how states should comply with the Affirmatively Furthering Fair Housing (AFFH) rule until HUD finalizes the state Assessment of Fair Housing (AFH) Tool. HUD also provided an update on its efforts to finalize the state Assessment Tool and the other assessment tools it is developing for other HUD program participants.
House and Senate Tax Writing Committees Welcome New Members for 115th Congress
Representatives David Schweikert (R-AZ), Jackie Walorski (R-IN), Carlos Curbelo (R-FL), Brian Higgins (D-NY), Terri Sewell (D-AL), and Suzan DelBene (D-WA) all will serve on the House Ways and Means Committee. New members of the Senate Finance Committee include Senators Bill Cassidy (R-LA) and Claire McCaskill (D-MO).
Senate Banking Committee Holds Nomination Hearing for HUD Secretary-Designate Ben Carson
Earlier today, HUD Secretary-Designate Dr. Ben Carson appeared before the Senate Banking Committee for his nomination hearing. He released this statement, commenting on the strong connection between housing and health, stressing the importance of deregulation, praising homeownership, and supporting continued efforts to tackle homelessness.
FHA Lowers Annual Insurance Premiums for Most Mortgages
The Federal Housing Administration (FHA) announced this morning that it will be reducing the annual mortgage insurance premium it charges for the vast majority of single-family loans it insures by .25 percent. The reduced premiums, which are outlined in a Mortgagee Letter, will take effect for loans closed as of January 27.
Hensarling Announces New Financial Services Subcommittee Chairs
House Financial Services Committee Chairman Jeb Hensarling (R-TX) announced today the Committee’s structure and leadership for the 115th Congress. The Committee oversees many key federal housing agencies, including HUD, the U.S. Department of Treasury, the Consumer Financial Protection Bureau (CFPB), as well as government-sponsored enterprises (GSEs) Fannie Mae, Freddie Mac, and the Federal Home Loan Banks (FHLBs).
FHFA Releases 2017 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Platform
The Federal Housing Finance Agency (FHFA) released yesterday the 2017 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions (CSS). The scorecard outlines the steps FHFA expects each of the firms to undertake next year to fulfill FHFA’s Strategic Plan for Enterprise Conservatorship, which was finalized in 2014.
