Tag Archives: Fannie Mae

After rising in the third quarter, overall economic growth is expected to decline this quarter and in early 2013, according to Fannie Mae. However, the GSE anticipates further strengthening in the housing market. Economists at Fannie Mae anticipate economic growth of less than 2 percent for the first half of 2013 followed by more accelerated growth for the remainder of the year. Fannie Mae anticipates a 7.5 percent rise in home sales over the course of 2013 after this year's 10.2 percent increase.

FHFA is directing both Fannie Mae and Freddie Mac to work together with the agency on developing industry-wide servicing data standards, according to updates from the GSEs. The news standards are a component of the Uniform Mortgage Data Program (UMDP) and will go by the name Uniform Mortgage Servicing Dataset (UMSD).

The Federal Housing Finance Agency (FHFA) isn't doing enough to monitor compensation for senior professionals at Fannie Mae and Freddie Mac, the Office of the Inspector General (FHFA-OIG) suggests in a new report. While the FHFA has increased its monitoring on executive pay, its oversight of non-executive compensation has been relatively limited, according to the report. For example, payment for executives was brought down from 2010 to 2011, but compensation for senior professionals actually increased in those years.

With about one-third of the American population residing in rental housing with climbing rents even despite largely stagnant incomes, the Center for American Progress argues for continued participation of the federal government in the multifamily housing market. Specifically, the organization supports a federal guarantee on multifamily mortgages. CAP says the Federal Housing Finance Agency ""appears poised to pursue plans to privatize the multifamily mortgage market."" However, CAP says doing so would ""be a big mistake.""

Consumers' perceptions of housing and the economy are growing more and more positive, according to responses in Fannie Mae's November 2012 National Housing Survey. Attitudes about the current selling environment continue to improve, with 23 percent of respondents saying now is a good time to sell a home, the highest percentage since the survey began in 2010.

In prepared remarks delivered before SIFMA members Thursday, Federal Finance Housing Agency (FHFA) Acting Director Edward DeMarco addressed the current state of the secondary mortgage market and the agency’s steps toward building a better market for the future. Part of the process of improving the market is by bringing the ""conservatorships to a conclusion,"" while strengthening the private sector's role in housing finance, DeMarco contended. As it now stands, DeMarco said, ""The secondary mortgage market infrastructure that served this country for many years is broken.""

Delinquencies among commercial and multifamily mortgages are down, according to the latest report from the Mortgage Bankers Association (MBA). Measured separately, the delinquency rates for commercial and multifamily mortgages held by Fannie Mae, Freddie Mac, and life companies are all ""extremely low,"" according to Jamie Woodwell, VP for commercial real estate research at MBA.

A controversial bill that would extend an increase on guarantee fees (g-fees) on mortgages backed by the GSEs or the Federal Housing Administration (FHA) has passed in the House of Representatives. The bill, H.R. 6429 proposes reforms for visas offered to immigrants who possess advanced training in science, technology, engineering, or mathematics.

Despite a number of potentially damaging headwinds, the ongoing housing recovery will remain sustainable for the foreseeable future, analysts for Capital Economics say in a recently released report. The housing industry's rapid rebound took many experts by surprise--even the researchers who authored the report admit they ""have been slightly taken aback"" by the recovery's speed. However, they point to several major indicators that show the current upturn is more than a temporary blip or a false recovery.

Fannie Mae and Freddie Mac refinanced more than 90,000 mortgage loans through the Home Affordable Refinance Program (HARP) in September, bringing the program's total reach to 1.7 million since its inception in 2009, according to the latest refinance report from the Federal Housing Finance Agency. The rate of HARP refinances has increased since the program was revised in the fall of 2011 to expand borrower eligibility. Year-to-date, 709,000 loans have been refinanced through HARP, already far exceeding last year's total of about 400,000.