Government

Ginnie Mae has published a new Memorandum announcing that it will transition all outstanding LIBOR Classes of Ginnie Mae Multiclass Securities after June 30.

First Republic Bank, with assets of $229B, was taken over by the FDIC and purchased by JPMorgan Chase.

As part of the GSE’s effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market, CIRT 2023-4 transfers $501 million-plus in mortgage credit risk to private insurers and reinsurers.

The Bureau issues an interim final rule that contains updates to reflect a new law and Federal Reserve Board regulation.

“By providing a pathway for more older adults to stay in their homes, we are helping to improve lives and ensuring the opportunity for seniors to age with dignity,” said HUD Secretary Marcia L. Fudge.

The Consumer Financial Protection Bureau has issued guidance to protect consumers from illegal collection tactics on so called “zombie mortgages,” since it is illegal for debt collectors to sue or even threaten to sue to collect on these debts past the statute of limitations or in other illegal fashions.

Federal Housing Finance Agency (FHFA) Director Sandra L. Thompson has released a new statement addressing the pricing framework of Fannie Mae and Freddie Mac.

According to new residential sales statistics from U.S. Census Bureau and the U.S. Department of Housing and Urban Development, new single-family home sales rose to a seasonally adjusted annualized rate of 683,000.

HUD will introduce rulemaking, establish a process for individualized assessments, and outline guidelines for public housing authorities to remove barriers to safe, affordable housing for people with criminal records.

The Consumer Financial Protection Bureau announced a revised version of its Methodology for Determining Average Prime Offer Rates, used to measure and determine average rates for purposes of federal mortgage rules.