Any new regulatory changes to FHLBank membership should not negatively impact credit unions’ ability to access liquidity or obtain FHLBank membership, CUNA wrote to the FHFA in response to a request for information about FHLBank membership.
The FHFA announced Monday it will be re-proposing the updated minimum financial eligibility requirements for Fannie Mae and Freddie Mac Seller/Servicers. The original Jan. 31 proposal will not be finalized and implemented this month as planned.
The Federal Housing Finance Agency Thursday published a final rule on the Federal Home Loan Banks’ Housing Goals. The new goals take effect in 2021 and enforcement of the rule will be phased in over three years.
The FHFA announced Tuesday that Fannie Mae and Freddie Mac (the Enterprises) have issued temporary guidance regarding the eligibility of borrowers who are in forbearance, or have recently ended their forbearance, looking to refinance or buy a new home.
The FHFA announced that Fannie Mae and Freddie Mac are making available a new payment deferral option for borrowers. The move comes after CUNA engagement with FHFA calling for clarity on how the GSEs will address borrowers impacted by the pandemic.
CUNA President/CEO Jim Nussle discussed how credit unions are serving members during the pandemic Tuesday with FHFA Director Mark Calabria, while recommending liquidity assistance, clear guidance and additional regulatory relief to help credit unions work better with mortgage borrowers.
The Federal Housing Finance Administration could make several policy changes to help credit unions assist members better during the coronavirus disease (COVID-19) pandemic, CUNA wrote to FHFA Director Mark Calabria Tuesday.
While CUNA supports increasing access to energy efficient housing modifications, the absence of conventional PACE loan consumer protections and adequate safeguards have left homeowners vulnerable and could lead to unexpected or unintended effects on the housing market.
The FHFA published a final rule in August that presents the standards, criteria and process that Fannie Mae and Freddie Mac will use to validate and approve third-party credit score models. The final rule is effective Oct. 15.