Housing Finance
CFPB Seeks to Delay Mandatory Compliance of General QM Rule
The Consumer Financial Protection Bureau (CFPB) today proposed to delay the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to Oct. 1, 2022.
FHFA Authorizes More than $1 Billion for Affordable Housing Funds
The Federal Housing Finance Agency (FHFA) announced today a $1.09 billion disbursement for Fannie Mae and Freddie Mac affordable housing allocations for 2020. This is the largest amount ever disbursed and more than double what was provided last year.
Fannie Mae, Freddie Mac Extend Foreclosure, Eviction Moratoriums
The Federal Housing Finance Agency (FHFA) has announced that Fannie Mae and Freddie Mac will extend their moratorium on single-family foreclosures and evictions until June 30, 2021. The foreclosure moratorium applies to Fannie Mae and Freddie Mac-backed single-family mortgages only. The eviction moratorium applies to properties that have been acquired by Fannie and Freddie through foreclosure or deed-in-lieu of foreclosure transactions.
Podcast: Housing Finance Expert Weighs in on Reform
On the latest installment of the NAHB podcast Housing Developments, CEO Jerry Howard and Chief Lobbyist Jim Tobin are joined by Executive Vice President of Housing Finance, Dave Ledford, to review recent updates in the housing finance arena.
Fannie Mae and Freddie Mac Can Continue to Retain Earnings
The Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury yesterday announced that Fannie Mae and Freddie Mac (the Enterprises) can continue to retain earnings until they satisfy the requirements of the 2020 Enterprise capital rule. Under the 2020 final capital rule, Fannie Mae and Freddie Mac’s combined risk-based capital requirements would have been $283 billion as of June 30, 2020.
Spending Bill Lays Out Funding Levels for Key HUD and USDA Programs
The massive spending bill approved by Congress last night will fund the federal government through Sept. 30, 2021, and includes spending targets for key HUD and USDA programs.
A Win on Beneficial Ownership Reporting Requirements
In a win for NAHB, House and Senate negotiators have agreed on “beneficial ownership” legislation that addresses key builder concerns after NAHB negotiated directly with key congressional leaders.
CFPB Issues Final Qualified Mortgage Rules
The Consumer Financial Protection Bureau (CFPB) today issued two final rules related to qualified mortgage (QM) loans. The General QM Final Rule replaces the current requirement for General QM loans that the consumer’s debt-to-income ratio (DTI) not exceed 43%, with a limit based on the loan’s pricing. The second rule creates a new category for QMs, Seasoned QMs.
Biden Selects Rep. Fudge as HUD Secretary
President-elect Joe Biden has selected Rep. Marcia Fudge (D-Ohio) as the next secretary of the Department of Housing and Urban Development.
FHA Raises 2021 Loan Limits
The Federal Housing Administration (FHA) has announced its loan limits for 2021. The nationwide rise in median home prices indicates most buyers across the country will see increases.
