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.
The FHFA announced extensions of several measures to align COVID-19 mortgage relief policies across the federal government. Fannie and Freddie are extending the moratoriums on single-family foreclosures and REO evictions until June 30, 2021.
FHFA announced this week that Fannie Mae and Freddie Mac are extending moratoriums on single-family foreclosures, real estate owned (REO) evictions, and several loan origination flexibilities until March 31.
CUNA remains strongly supportive of the FHFA's efforts to ensure the GSE meet their public mission. Both GSE single-family and multifamily housing goals for 2021 will remain the same as the 2018-2020 levels, but the agency will engage in a new rulemaking.
CUNA strongly supports the three goals included in the FHFA's strategic plan and noted that credit unions have a “substantial interest” in effective-functioning FHFA-regulated entities, including Fannie Mae, Freddie Mac and the Federal Home Loan Bank system.
FHFA Director Mark Calabria responded to letters from CUNA and all 35 state Leagues expressing concerns over the proposed GSE refinance fee. CUNA wrote to the multiple times, most recently Aug. 25, shortly before FHFA announced the fee implementation would be delayed by three months to Dec. 1.