The Federal Housing Administration (FHA) has rescinded more than a dozen sub-regulatory mortgage policies in an aggressive effort to streamline operations, cut costs, and reduce regulatory burdens on lenders and borrowers. The move is part of a broader strategy aimed at making FHA-backed loans more accessible and affordable.
Across the United States, homes are taking noticeably longer to sell, signaling a shift in the housing market that is affecting the behavior of buyers, sellers, and agents alike. The typical time on market has climbed to about 60 days, up significantly from roughly 38 days this time last year.
In a striking and unconventional move, former President Donald Trump has intensified his public campaign for lower interest rates by delivering a handwritten note directly to Federal Reserve Chair Jerome Powell. The note, written in bold Sharpie on oversized paper, marks a rare personal appeal and escalates a long-running feud over monetary policy.
U.S. home price growth is expected to moderate over the next two years, according to a new expert panel survey conducted by Fannie Mae and Pulsenomics. Economists forecast average annual increases of 2.9% in 2025 and 2.8% in 2026—marking a downward revision from earlier expectations of 3.4% and 3.3%, respectively.
The Federal Reserve is widely expected to keep interest rates unchanged at its June policy meeting, maintaining the benchmark rate within the 4.25% to 4.50% range. While the move has been anticipated by markets, its implications for consumers, investors, and policymakers remain significant.
The Federal Housing Finance Agency (FHFA) has established an Office of Financial Technology to address emerging risks and advancing agency priorities related to the adoption and deployment of financial technology (fintech) in the mortgage process. “Fintech is used in the mortgage process and we need to get a better understanding of what these products are and how they’re used and to make sure they’re used in a safe and sound manner,” said FHFA Director Sandra L. Thompson during testimony to the House Committee on Financial Services.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
The Federal Housing Administration (FHA) has directed mortgage underwriters to be more flexible with borrowers who have been negatively affected by COVID-19. The new policy was announced last week in Mortgage Letter 2022-09. It instructs lenders how to calculate effective income for qualified borrowers who were affected by gaps in employment, which led to reductions or loss of income due to a COVID-19 “related economic event.”
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
Recent regulatory issues and changes have drawn interest and concern from the mortgage industry. Earlier this month, Fannie Mae and Freddie Mac announced a new upfront fee of 50 basis points on some government-backed enterprise securities. The fee is designed so that each enterprise can secure the collateral of the other enterprise in commingled securities, known as Supers and real estate mortgage conduit (REMIC) securities.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
Fannie Mae and Freddie Mac last week released three-year plans to address equality in housing finance. Creation of the Equitable Housing Finance Plans was directed by the Federal Housing Finance Agency (FHFA) in September 2021. FHFA said the plans are designed to complement the initiatives outlined in the agency’s four-year strategic plan.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
The Federal Housing Finance Agency (FHFA) published a final rule last week that amends the Enterprise Regulatory Capital Framework (ERCF) by introducing new public disclosure requirements for Fannie Mae and Freddie Mac. FHFA proposed the rule change in November 2021 to include quarterly quantitative and annual qualitative disclosures related to risk management, corporate governance, capital structure, and capital requirements.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
Potential homebuyers continue to be less optimistic about buying a home, while existing homeowners are turning to home equity loans and lines of credit amid rising mortgage rates. Fannie Mae reported last week that its monthly Home Purchase Sentiment Index® (HPSI) decreased by 4.7 points to 68.5 in April, its lowest level since May 2020.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
The Federal Housing Finance Agency (FHFA) has published revised versions of the 2022-2024 Underserved Markets Plans for Fannie Mae and Freddie Mac under the Duty to Serve (DTS) Program. The agency has informed the GSEs in January that their DTS plans, which were published in May 2021, did not meet the standard for any of the three underserved markets targeted by the DTS Program.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
Fannie Mae has announced several recent updates to its Selling Guide, including one that provides title insurance flexibility. One Selling Guide update, effective immediately, permits lenders to obtain either a lender’s title insurance policy or an attorney title opinion letter, “in limited circumstances.”
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
The acting director of the Federal Housing Finance Agency (FHFA) said during an interview last week that the agency is preparing Fannie Mae and Freddie Mac to exit conservatorship, but there are a number of details to work out before that happens. FHFA Acting Director Sandra Thompson was interviewed by Dennis Shea, executive director of the J. Ronald Terwilliger Center for Housing Policy at the Bipartisan Policy Center (BPC).
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
Global conflicts and global economics spell near-term uncertainty for the domestic mortgage market. Fannie Mae’s latest monthly economic commentary continues to forecast robust sales for new homes, but a declining market for existing homes and refinances. The overall general economy is also predicted to grow less than previously forecasted for the remainder of 2022.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
Written By: Bonnie Wildt
I have said it before and I will say it again and that is, do not believe everything you hear or read for that matter. In this particular instance I am referring to AUS Findings. I have had countless conversations with processors and loan officer who want to know why I am asking for documentation that the AUS findings have clearly stated wasn’t needed or worse, they can’t believe I am turning a loan down that has an Approve/Eligible. So here it is again and pay particular attention to the details because just because you have an Approve/Eligible or Accept doesn’t necessarily mean you have a done deal.