The Federal Housing Finance Agency issued a Policy Statement on Fair Lending communicating its "commitment to comprehensive fair lending oversight of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks" and providing a foundation for building out FHFA's fair lending program.
Several FHFA issues require immediate attention, CUNA wrote new FHFA Director Sandra Thompson Wednesday. CUNA also reiterated its principles for housing finance reform and its support for eventual exit from conservatorship by the Fannie Mae and Freddie Mac
The FHFA can take several steps to address the racial wealth gap and the racial homeownership gap, CUNA Senior Director of Advocacy and Counsel Elizabeth LaBerge told an FHFA listening session on closing the gap to sustainable homeownership.
FHFA announced Thursday that Fannie Mae and Freddie Mac are extending the moratoriums on single-family foreclosures and real estate owned (REO) evictions until July 31, 2021. The foreclosure moratorium applies to Enterprise-backed, single-family mortgages only.
President Joe Biden named Sandra L. Thompson as acting director of the Federal Housing Finance Agency (FHFA) this week. Her appointment follows Wednesday’s U.S. Supreme Court decision that found the president may remove the FHFA director at will
The U.S. Supreme Court ruled Wednesday that the director of the Federal Housing Finance Agency can be removed at will by the president, overturning the current structure that allows the director to be removed before the end of their five-year term for cause. The decision in Collins v. Yellen found that the FHFA’s structure is unconstitutional.
CUNA encouraged the Federal Housing Finance Agency (FHFA) to pursue climate and natural disaster risk mitigation strategies that do not abandon low- and moderate-income Americans in a letter sent Monday.
The FHFA announced that Fannie Mae and Freddie Mac will extend temporary loan origination flexibilities until April 30, 2021. The temporary flexibilities are designed to ensure continued support for borrowers during the COVID-19 pandemic.
CUNA strongly supports the FHFA efforts to build a strong Enterprise liquidity framework, it wrote to the agency Tuesday in response to a proposal to implement four liquidity and funding requirements for Fannie Mae and Freddie Mac.
FHFA Director Mark Calabria announced Monday he has authorized the disbursement of $1.09 billion for Fannie Mae and Freddie Mac's affordable housing allocations for 2020. This is the largest amount ever disbursed and more than double what was provided last year.