Housing Finance
Fannie, Freddie to Allow Desktop Appraisals on New Construction Loans
The Federal Housing Finance Agency announced several loan processing flexibilities for Fannie Mae and Freddie Mac, including allowing desktop appraisals on new construction loans.
FHA Announces Policy Updates Related to COVID-19
The Federal Housing Administration has announced new guidance for property appraisals and other policy updates due to the COVID-19 national emergency declared by the president.
VA Updates Lender, Valuation Guidance for Borrowers Affected by COVID-19
The U.S. Department of Veterans Affairs today issued a circular that provides guidance for VA home loan borrowers affected by COVID-19 and describes temporary measures regarding loan origination, closing and guaranty. The agency also issued a separate notice regarding valuation practices during the pandemic.
CFPB Provides Flexibility During COVID-19 Pandemic
The Consumer Financial Protection Bureau (CFPB) today announced that it is providing needed flexibility to enable financial companies to work with customers in need as they respond to the COVID-19 pandemic.
Multifamily Owners, Renters to Receive FHFA Support
The Federal Housing Finance Agency announced today that Fannie Mae and Freddie Mac will offer multifamily property owners mortgage forbearance with the condition that they suspend all evictions for renters unable to pay rent due to the impact of coronavirus.
FHFA Acts to Boost Liquidity and Facilitate Transactions in Mortgage Market
The Federal Housing Finance Agency (FHFA) today authorized Fannie Mae and Freddie Mac to enter into additional dollar roll transactions to boost liquidity in the mortgage market. Dollar roll transactions provide mortgage-backed securities investors with short-term financing of their positions, providing liquidity to these investors.
Federal Regulators Urge Banks to Work with Borrowers Affected by COVID-19
Federal regulators urged banks and other institutions today to work with borrowers affected by COVID-19, stating that loan modification programs “are positive actions that can mitigate adverse affects on borrowers due to COVID-19.”
HUD, Fannie Mae and Freddie Mac Suspend Foreclosures and Evictions
President Trump announced today that he has directed the Department of Housing and Urban Development to suspend foreclosures and evictions for mortgages insured by the Federal Housing Administration through the end of April. Fannie Mae and Freddie Mac will also follow suit and suspend foreclosures and evictions for at least 60 days.
Fed Cuts Interest Rates to Zero
The Federal Reserve on Sunday evening slashed interest rates to zero in a dramatic move to boost the economy and keep borrowing costs as low as possible for consumers and businesses in the wake of the coronavirus crisis.
Global Housing Finance Focus of International Housing Association Report
The International Housing Association (IHA) released a report outlining the similarities and differences that the housing industry and home buyers encounter with housing finance in different corners around the world.
