Tag Archives: Federal Housing Finance Agency (FHFA)

Keeping in line with the steep increase of housing prices nationwide, the FHA has set forth its Single-Family Title II forward and Home Equity Conversion Mortgage loan limits for the upcoming calendar year.

In accordance with IRS guidelines on the trading of Uniform Mortgage-Backed Securities, the FHFA’s deemed-issuance-ratio for the new year will be set to 53% for Fannie Mae and 47% for Freddie Mac.

The GSEs have increased conforming loan limit values for mortgages in 2023 to $726,200, an increase of $79,000 over 2022’s loan limits.

Since the start of the GSEs' conservatorship nearly 14 years ago, approximately 40% of their foreclosure prevention actions have resulted in permanent loan modifications.

Pursuant to the Housing and Economic Recovery Act of 2008, the FHFA has released its annual report on single-family guarantee fees charged by Fannie Mae and Freddie Mac.

Looking to address the need for more affordable housing options, the FHFA will require that at least 50% of the GSE’s multifamily business be mission-driven affordable housing.

“The steepest increase in mortgage rates in decades is a headwind for homebuyers, but Ginnie Mae’s guaranty and insuring agency partners are here with products and programs to help consumers achieve their dream of homeownership,” said Ginnie Mae President Alanna McCargo.

According to the 2019 Survey of Consumer Finances conducted by the Federal Reserve, on average white families held just under a million dollars in accumulated wealth, while Black and Latino families had about $150,000 in wealth.

“Today's decision will benefit borrowers and the Enterprises, along with maintaining safety and soundness," said Sandra L. Thompson, Director of the FHFA.

The FHFA has taken further action to ensure that all borrowers and renters have equitable access to long-term affordable housing opportunities by implementing targeted increases to the upfront fees for most cash-out refinance loans.