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Tag Archives: FHFA

FHFA Approves Merger Application for Federal Home Loan Banks of Des Moines, Seattle

The Federal Housing Finance Agency (FHFA) has approved the merger application for the Federal Home Loan Banks of Des Moines and Seattle that was submitted on October 31, 2014, according to a press release. The historic voluntary merger between two FHLBanks is subject to satisfaction of specific closing conditions the FHFA approval letter set forth, including the receipt of approvals by members of both the Des Moines and Seattle Banks.

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FHFA Vows to Protect First-Lien Status of GSE-Backed Mortgages

The Federal Housing Finance Agency (FHFA) has released a statement warning organizations that label mortgage loans with "super-priority lien" status that such loans will not push loans backed by Fannie Mae and Freddie Mac into the secondary position. The warning was aimed mainly at energy retrofit financing programs and homeowners associations that attach super-priority lien status to mortgages because of the risk they pose to taxpayers while Fannie Mae and Freddie Mac are under conservatorship.

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Foreclosure Completions, Starts on GSE Loans Continue Steady Decline

Both foreclosure completions and foreclosure starts on Fannie Mae and Freddie Mac loans continued their steady decline in the third quarter, according to the Federal Housing Finance Agency (FHFA)'s Q3 Foreclosure Prevention Report released Monday. The GSEs completed 39,100 foreclosures in Q3, down 9 percent from the 43,000 that were completed in Q2, according to the report.

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Report: GSEs Have Completed 3.3 Million Foreclosure Prevention Actions Since ’08

Fannie Mae and Freddie Mac have completed approximately 3.3 million foreclosure prevention actions in the last six years, according to the Federal Housing Finance Agency (FHFA)'s Q3 Foreclosure Prevention Report released Monday. Including the 72,700 foreclosure prevention actions completed by the GSEs in the third quarter, the two Enterprises have performed about 3.3 million such actions since the start of the conservatorship under FHFA in September 2008, according to the report. Nearly 2.8 million of those borrowers were able to stay in their homes as a result of receiving assistance from Fannie Mae or Freddie Mac.

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Senators Ask FHFA to Revisit FHLBank Membership Requirements

Twenty-seven senators have signed a letter addressed to Federal Housing Finance Agency (FHFA) Director Mel Watt asking him to reconsider the stricter membership requirements for the Federal Home Loan Banks the Agency proposed in September. The changes to membership requirements outlined by Watt in a speech at the FHLBank Director's Conference on September 2 require members to hold 1 percent of their assets in home mortgage loans (HML) on an ongoing basis, whereas the previous rule requires members to demonstrate this only at the time of their application and not at any time afterward

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