The Federal Housing Finance Agency recently began qualifying investors to purchase pools of real-estate-owned assets in some of the nation’s worst housing markets from Fannie Mae and Freddie and convert them to rental properties. But the strategy is opposed by some local California Realtors who stand to lose commissions on such bulk sales. The FHFA, [...]
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Realtors Oppose REO-to-Rental Program
April 24th, 2012 
davidguide 
Posted in Business Loans 
Tags: california realtors, department of housing and urban development, department of the treasury, Fannie, Federal, finance, Housing, housing and urban development, housing finance agency, REOs, strategy 
Comments OffSIGTARP Report Finds Hardest Hit Funds Barely Utilized
April 12th, 2012 davidguide The Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets was established in February 2010 through the Dodd-Frank Wall Street Reform and Consumer Protection Act . The program was to be funded with $7.6 billion intended to reduce mortgage principal on negative-equity properties, provide assistance for unemployed or under-employed borrowers and help eliminate [...]
Posted in Business Loans Tags: consumer protection act, equity properties, housing finance agency, innovation fund, mortgage principal Comments OffAnger Grows Over FHFA Chief
March 31st, 2012 davidguide California’s attorney general is calling for the ouster of the acting director of the Federal Housing Finance Agency. Another California Democrat calls him a “random idiot.” Meanwhile, Republicans are blasting the FHFA chief for not doing more to rid the nation of Fannie Mae and Freddie Mac — which have cost U.S. taxpayers $188 billion [...]
Posted in Business Loans Tags: california democrat, Democrat, Fannie, fannie mae, fannie mae and freddie mac, Federal, finance, Housing, housing finance agency, ouster Comments OffUpdated HARP Guidelines Released
November 16th, 2011 davidguide Last month, the Federal Housing Finance Agency announced enhancements to the Home Affordable Refinance Program. Changes to the program included the elimination of a maximum loan-to-value ratio and the waiver of representations and warranties. Now, Fannie Mae and Freddie Mac have issued updated HARP guidelines. View full post on Mortgage Stories
Posted in Business Loans Tags: Affordable, fannie mae, fannie mae and freddie mac, finance, home, housing finance agency, maximum loan, Released, Updated, value ratio, waiver Comments OffExpected Bailout Costs Lowered for Fannie, Freddie
October 27th, 2011 davidguide The Federal Housing Finance Agency projected a year ago that draws under Fannie Mae’s and Freddie Mac’s stock purchase agreements with the Department of the Treasury could reach as much as $363 billion by 2013. But a new report from the regulator estimates that Treasury draws will likely only reach a maximum of $311 billion [...]
Posted in Business Loans Tags: department of the treasury, Expected, Fannie, fannie freddie, fannie mae, finance, Housing, housing finance agency, Regulator, stock purchase, Treasury Comments OffMBS Litigation Tsunami hits Financial Firms
September 5th, 2011 davidguide Separate lawsuits were filed against 17 issuers and underwriters of private-label mortgage-backed securities purchased by Fannie Mae and Freddie Mac. The Federal Housing Finance Agency filed the lawsuits as conservator of Fannie and Freddie. “The complaints filed today reflect FHFA’s conclusion that some portion of the losses that Fannie Mae and Freddie Mac incurred on [...]
Posted in Business Loans Tags: Fannie, fannie mae, fannie mae and freddie mac, finance, Housing, housing finance agency, improper actions, MBS, mortgage backed securities, Today, tsunami Comments OffGov Report Calls for National AMC Standards
July 15th, 2011 davidguide The Government Accountability Office released a study on appraisal management companies. The report said that wider use of AMCs has raised concerns about AMC oversight. “GAO recommends that federal banking regulators, the Federal Housing Finance Agency and the Bureau of Consumer Financial Protection consider addressing several key areas, including criteria for selecting appraisers, as part [...]
Posted in Business Loans Tags: AMCs, appraisal management, Federal, Gov, government accountability office, Housing, housing finance agency, management companies, report, study, use Comments OffCA Program Expanded to Cashout Loans
April 6th, 2011 davidguide The California Housing Finance Agency announced that it would loosen eligibility requirements for the Keep Your Home California initiative. Among the enhancements is allowing borrowers who had cashout refinances to now receive some help. The state is also expanding eligibility to include mortgages originated after Jan. 1, 2009. View full post on Mortgage Stories
Posted in Business Loans Tags: California, california housing finance agency, california initiative, Cashout, finance, home, Housing, housing finance agency, post, refinances, State Comments OffObama Selects Regulator for Fannie, Freddie
November 13th, 2010 davidguide The Obama administration announced a permanent replacement to the acting director of the Federal Housing Finance Agency. Joseph A. Smith Jr. will be nominated by Obama to become FHFA director, an announcement from the White House said. FHFA regulates Fannie Mae and Freddie Mac. View full post on Mortgage Stories
Posted in Business Loans Tags: administration, director, Fannie, fannie mae, fannie mae and freddie mac, Federal, FHFA, Freddie, housing finance agency, joseph a smith, Joseph A. Smith Jr., Obama, Regulator, replacement, Selects Comments Off
