Housing Finance
Mnuchin Opposes Recap and Release of Fannie and Freddie
Steve Mnuchin, President Trump’s pick to be Treasury secretary, said that he opposed a “recap and release” plan for Fannie Mae and Freddie Mac during his Senate confirmation hearing on Jan. 19.
Recap and release would mean recapitalizing Fannie Mae and Freddie Mac and then releasing the two mortgage giants from government control.
Trump Administration Cancels FHA Mortgage Premium Cuts
President Donald Trump signed an executive order on Jan. 20 cancelling a decision made by the Obama administration to lower Federal Housing Administration annual mortgage insurance premiums by 25 basis points to 0.60%.
FHA Lowers Annual Mortgage Insurance Premiums
In a move that will make home loans more affordable, the Federal Housing Administration announced today that it will reduce the annual premiums most of its borrowers pay on mortgage insurance premiums by 0.25 percentage points from 0.85% to 0.60%. The agency said that the new lower premium rates are projected to save new FHA-insured home owners an average of $500 this year.
Conventional Mortgages Riding High
The share of mortgages financed through conventional products in the third quarter of 2016 rose to 74.1%, the highest level seen since 2008.
A Prudent Way to Deal with Fannie Mae and Freddie Mac
The Bloomberg Editorial Board has outlined a thoughtful approach to transition Fannie Mae and Freddie Mac and attract badly needed private capital back into the marketplace.
Illinois Builder Ed Brady Being Considered as FHA Commissioner
Illinois home builder Ed Brady, who is also the outgoing 2016 NAHB chairman, is among the candidates that the Trump transition team has talked to about becoming the next Federal Housing Administration (FHA) commissioner.
Comment Letters Needed for HUD’s Floodplain Management Proposal
NAHB is urging members and HBAs to voice your concerns with a new HUD floodplains management proposal that fundamentally threatens access to FHA mortgage insurance programs for single-family home buyers and multifamily builders.
FHA Raises Loan Limits
The Federal Housing Administration has released its new schedule of loan limits effective Jan.1, and the nationwide rise in home prices means that buyers in 2,948 counties will see increases.
Fannie-Freddie to Raise Conforming Loan Limits in 2017
The Federal Housing Finance Agency (FHFA) today announced that the maximum baseline conforming loan limit for mortgage loans acquired by Fannie Mae and Freddie Mac in 2017 will increase to $424,100 from $417,000. This will be the first increase in the conforming loan limit since it was raised to $417,000 in 2006. The Housing and […]
No Quick Fixes for Builders as Trump Administration Slowly Takes Shape
President-elect Trump has promised to shake things up in Washington, but it won’t happen overnight. “While there may be some expectation of quick and dramatic reversals of some existing policies, political reality may temper the pace and extent of those changes,” NAHB First Vice Chairman Granger MacDonald says.
