On November 22, 2017, the Federal Housing Finance Agency (“FHFA“) issued a status report on credit risk transfer transactions done in conjunction with Fannie Mae and Freddie Mac. Release.
Fannie Mae
FHFA Requests Input on FHFA’s Draft Strategic Plan for Fiscal Years 2018-2022
On September 27, 2017, the Federal Housing Finance Agency requested comment on its proposed strategic plan, which “…reflects the Agency’s priorities as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac[.]” Release.
FHFA Requests Public Input on Duty to Serve Program
On January 18, 2017, the Federal Housing Finance Agency (the “FHFA“) announced its request for public comment on (i) proposed chattel loan pilot initiatives for Fannie Mae and Freddie Mac and (ii) the expectations and evaluation criteria the FHFA should use in relation to Fannie Mae and Freddie Mac’s effectiveness in fulfilling its duty to assist very low, low and moderate income families in the manufactured housing, affordable housing preservation and rural housing categories (pursuant to the Duty to Serve provisions in the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act of 2008). Release.
FHFA Announces Increase in Maximum Conforming Loan Limits for Fannie Mae and Freddie Mac in 2017
On November 23, 2016, the Federal Housing Finance Agency (FHFA) announced an increase in the maximum conforming loan limits for mortgages acquired by Freddie Mac and Fannie Mae. The maximum loan limit for one-unit properties in 2017 will increase from $417,000 to $424,100 for most of the United States. In certain higher-cost areas, there will be a higher loan limit. Release. A list of the 2017 maximum conforming loan limits for all counties and county‑equivalent areas in the country can be found here.
FHFA Further Adjusts Multifamily Lending Caps for Fannie Mae and Freddie Mac
On August 18, 2016, the Federal Housing Finance Agency (“FHFA”) announced an additional increase to the 2016 multifamily lending caps for both Fannie Mae and Freddie Mac. The caps for both Fannie Mae and Freddie Mac were raised from $35 billion to $36.5 billion, effective immediately. Press release.
FHFA Increases 2016 Multifamily Lending Caps
On May 4, 2016, the Federal Housing Finance Agency announced that it increased its 2016 multifamily lending caps for Fannie Mae and Freddie Mac from $31 billion to $35 billion. The increase is based on growing estimates of the overall size of the multifamily finance market. Release.
FHFA, Fannie Mae and Freddie Mac Announce Independent Dispute Resolution Program
On February 2, the Federal Housing Finance Agency (the “FHFA”) announced that Fannie Mae and Freddie Mac have implemented an independent dispute resolution process for resolving repurchase disputes. The process would allow lenders to submit their unresolved loan level disputes to an arbitrator after certain other processes have been exhausted. Press Release.
FHFA Releases 2015 Performance and Accountability Report
On November 16. 2015, the Federal Housing Finance Agency released a report that analyzes its duties as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac for the fiscal year 2015. Release.
FHFA Finalizes House Price Index Measure for Conforming Loan Limits for Fannie Mae and Freddie Mac
On October 19, 2015, the Federal Housing Finance Agency issued a Final Notice indicating that it will continue to use “expanded-data” House Price Index when establishing Freddie Mac and Fannie Mae’s maximum conforming loan limits. Release.
FHFA Releases Annual Guarantee Fee Report
On June 30, the Federal Housing Financing Agency released its annual report on the single-family guarantee fees charged by Fannie Mae and Freddie Mac, which tracks how guarantee fees have increased from 2009 through 2014. Release.