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Tag Archives: Fannie Mae

Consumers Firming Up Faith in Recovery: Survey

Consumer optimism about the housing market and homeownership improved substantially in September, Fannie Mae reported. According to the GSE's September 2012 National Housing Survey, upward trends in home prices and downward trends in mortgage rates throughout the summer reinforced positive attitudes about where the market is headed.

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GSEs Update Servicing Requirements

As part of the Servicing Success Program, Freddie Mac and Fannie Mae are aligning their expectations for servicers regarding a variety of criteria. However, while basic criteria will align, the weights and targets for various criteria may differ between the GSEs, according to an announcement from Freddie Mac. Freddie Mac recently released a bulletin to detail changes to the Servicer Success Scorecard, repurchase timelines for servicer violations, updates to compensatory fee requirements, and revisions to the GSE's servicer termination and transfer requirements.

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GSEs Work with More than 300 ‘High-Risk’ Counterparties: Report

As of the third quarter of 2011, more than 300 sellers and/or servicers (counterparties) were placed in the high-risk category by Fannie Mae and Freddie Mac, according to a report from the FHFA Office of Inspector General. In addition, the report stated the GSEs ended business relationships with more than 40 servicers/sellers on their high-risk watch lists since 2007.

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FHFA to Raise G-fees for High Default States

The Federal Housing Finance Agency (FHFA) plans to change the guarantee fees (g-fees) the GSEs charge on single-family mortgages. Starting in 2013, g-fees will be higher in some states than others, according to a notice sent to the Federal Register. Currently, g-fees are the same throughout the country. However, the FHFA has noticed ""a wide variation among states in the costs that the Enterprises incur from mortgage defaults,"" according to its notice to the Federal Register.

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Did Fannie Mae Pay Too Much in BofA Deal?

As part of its High Touch Servicing Program, Fannie Mae entered a deal with Bank of America in July 2011 to purchase mortgage servicing rights (MSR) for about 384,000 high-risk loans the GSE guaranteed. The Federal Housing Finance Agency Office of Inspector General (FHFA-OIG) recently reviewed the deal and the program in general.

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Fannie Mae Projects ‘Sluggish’ Economic Growth for 2012

According to the GSE's most recent Economic Outlook report, downside risks such as the European debt crisis, the fast-approaching fiscal cliff, and the recent slowdown in hiring have created a drag on the second quarter's modest economic growth. In addition, the summer drought is expected to compound the current slump, with food and agricultural prices rising. With gas prices also on the rise, headline inflation is expected to pick up, stifling consumer spending and possibly affecting consumer attitudes for the rest of the year.

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FHFA’s New Guidelines Should Aid Recovery’s Momentum

The housing market is seeing signs of recovery, and this recovery may be bolstered by the new representation and warranty framework the Federal Housing Finance Agency (FHFA) announced Tuesday, according to Fitch. Relying on signing offers and home tours as a future indicator of home sales, Redfin, a technology-driven real estate broker, predicts the market improvement seen this summer will continue into the fall.

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