Fannie Mae
FHFA Annual Report Concludes Fannie Mae, Freddie Mac Met 2019 Affordable Housing Obligations
FHFA determined the Enterprises’ purchases of mortgages exceeded the benchmarks for all the 2019 housing goals. The report also concluded both Enterprises complied with their 2019 Duty-to-Serve requirements in all three underserved markets.
Will The GSEs Be Attractive Enough To Equity Investors For A Successful Recapitalization?
A new blog and paper by Don Layton with the Joint Center for Housing Studies of Harvard University explore whether the Federal Housing Finance Agency’s (FHFA) plans and actions are consistent with making the Fannie Mae and Freddie Mac (collectively, the Government Sponsored Enterprises or GSEs) attractive enough to equity investors, and – given the need to raise such unprecedentedly large amounts of equity – to do so globally and broadly.
Upcoming House Financial Services Committee Events
The House Committee on Financial Services will hold a virtual roundtable at 3:00 pm ET on September 3 on Dismantling Barriers to Housing for America’s Seniors and People with Disabilities.
Michele Evans Named Head of Multifamily, Jeff Hayward Named Chief Administrative Officer at Fannie Mae
Jeff Hayward is leaving his post as head of Multifamily at Fannie Mae to assume a new enterprise-wide role as chief administrative officer, Michele Evans will take over as head of Multifamily.
Chairwoman Waters, Reps. Clay and Heck Request Housing Finance Regulator Pause Rulemaking Increasing Capital for Fannie Mae and Freddie Mac
Reps. Maxine Waters (D-CA), Wm. Lacy Clay (D-MO) and Denny Heck (D-WA), sent a letter to Dr. Mark Calabria, director of the Federal Housing Finance Agency (FHFA), urging the agency to prioritize economic recovery amid the COVID-19 pandemic crisis by pausing a rulemaking that would set new capital requirements for Fannie Mae and Freddie Mac (collectively “the Enterprises”) until after the pandemic.
FHFA, Fannie and Freddie Extend Forbearance
To help renters in multifamily properties stay in their homes and to support multifamily property owners during the Coronavirus national emergency, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) are allowing servicers to extend forbearance agreements for multifamily property owners with existing forbearance agreements for up to three months.
Senate Banking Hearing: Oversight of Housing Regulators
The Senate Banking Committee held a hearing on June 9 entitled Oversight of Housing Regulators. The witnesses included HUD Secretary Benjamin Carson and Federal Housing Finance Agency Director Mark Calabria.
CFPB, FHFA & HUD Launch Joint COVID-19 Mortgage and Housing Assistance Website
The Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA) and HUD launched an online resource on mortgage and housing assistance for renters and homeowners affected by COVID-19.
FHFA Announces Tools to Help Renters Find Out if They are Protected from Eviction
The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac created online multifamily property lookup tools to help renters find out if they are protected from evictions during the COVID-19 pandemic through the CARES Act.
NLIHC Releases Searchable Database and Map of Multifamily and Affordable Housing Properties Covered by Federal Eviction Moratoriums
The National Low Income Housing Coalition (NLIHC) created a searchable database and map of multifamily properties covered under the federal moratoriums to help renters know if they are protected.
Fannie Mae Updates Forbearance Process Guidance
Fannie Mae released updated COVID-19 Forbearance Process Guidance following the enactment of the Coronavirus Aid, Relief and Economic Security Act (CARES Act). The guidance outlines the necessary steps for submitting delegated forbearance notifications for a Borrower impacted by COVID-19. Fannie Mae is also updating the intake process for submitting non-delegated forbearance requests and modifications. Effective […]
FHFA Requires Multifamily Properties in Forbearance to Suspend Evictions
The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will offer multifamily property owners mortgage forbearance with the condition that they suspend all evictions for renters unable to pay rent due to the impact of Coronavirus.