Fannie Mae Tag Archives

FHFA Authorizes 2020 Disbursements to Housing Trust Fund, Capital Magnet Fund

The Federal Housing Finance Agency (FHFA) recently authorized Fannie Mae and Freddie Mac to disburse payments to HUD for the Housing Trust Fund (HTF) and to the Treasury Department for the Capital Magnet Fund (CMF). According to FHFA, HTF will receive $326.4 million for the year, while CMF will receive $175.8 million. Last year, HTF received $244.9 million, while CMF received $131.8 million.

Federal Housing Finance Agency News

It’s been a busy week for the Federal Housing Finance Agency (FHFA). During the American Credit Union Mortgage Association’s Annual Conference, Director Mark Calabria shared his concerns about volume-based pricing discounts on Guarantee Fees (G-Fees). FHFA issued a confidential administrative directive to Fannie Mae and Freddie Mac restricting competition on G-Fees

FHFA sent a letter to the 11 Federal Home Loan Banks (FHLBanks) instructing them that, as of December 31, 2019, they should stop purchasing investments in assets tied to London Interbank Offered Rate (LIBOR) with a contractual maturity beyond December 31, 2021.

FHFA announced modified Preferred Stock Purchase agreements with Fannie Mae and Freddie Mac that allow the GSEs to retain capitals of up to $25 billion and $20 billion, respectively. The move ends the capital sweep on earnings above $3 billion that was put into place in 2008 when the GSEs entered conservatorship.

Finally, FHFA announced an agreement with Simone Grimes who accused former director Melvin Watt of sexual harassment.

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FHFA Revises Fannie Mae, Freddie Mac Multifamily Loan Purchase Caps

The Federal Housing Finance Agency (FHFA) announced new multifamily loan purchase caps of $100 million each for Fannie Mae and Freddie Mac from the fourth quarter of 2019 to the fourth quarter of 2020. The new caps apply to all multifamily business with no exclusions. The FHFA also directs at least 37.5 percent of Fannie Mae and Freddie Mac multifamily business to mission-driven affordable housing.

FHFA Hosts Duty To Serve Listening Sessions

Fannie Mae, Freddie Mac (the Enterprises) and the Federal Housing Finance Agency (FHFA), in collaboration with the Federal Reserve Bank of St. Louis and the Federal Reserve Bank of San Francisco are hosting four Duty to Serve (DTS) Listening Sessions in the Fall of 2019. These listening sessions are an opportunity for the public to provide input on the Enterprises’ proposed plans for the second DTS plan cycle, 2021-2023.

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