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Federal Housing Finance Agency (FHFA)

FHFA Announces $550 Million Settlement With HSBC

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The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, announced a settlement of $550 million with HSBC North America Holdings Inc., related companies and specifically named individuals (HSBC). The settlement resolves claims in the lawsuit FHFA v. HSBC North America Holdings Inc., et al. (S.D.N.Y.), alleging violations of federal, Virginia and District of Columbia securities laws in connection with private-label mortgage-backed securities purchased by Fannie Mae and Freddie Mac during 2005-2007.Click to continue

United Guaranty Introduces New Rescission Relief Option

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United Guaranty has introduced SecureCert, a suite of five options that allow lenders to choose the maximum rescission relief available in the mortgage insurance (MI) industry—at no added cost. The Federal Housing Finance Agency (FHFA) is requiring all mortgage insurers to adopt new master policies, effective Oct.Click to continue

The FHFA Proposes Rule To Revise Existing Bank Membership Regulation

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The Federal Housing Finance Agency (FHFA) proposed a rule that would revise the requirements for financial institutions to apply for and retain membership in one of the 12 Federal Home Loan Banks. The proposed rule would revise FHFA’s existing bank membership regulation to ensure that members maintain a commitment to housing finance and that only eligible entities can gain access to Bank advances and the benefits of membership. Click to continue

FHFA Sets Goals For GSE's Next Few Years

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The Federal Housing Finance Agency (FHFA) proposed a rule that would establish housing goals for Fannie Mae and Freddie Mac (the Enterprises) for 2015 through 2017. FHFA is requesting comment on all aspects of the proposed rule. The Housing and Economic Recovery Act of 2008 requires FHFA to establish annual housing goals for both Enterprises, and FHFA’s current housing goals rule is effective through the end of 2014.Click to continue

U.S. Home Prices Up Nearly One Percent in Q2

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The Federal Housing Finance Agency (FHFA) has announced that U.S. house prices rose 0.8 percent in the second quarter of 2014, according to its purchase-only, seasonally adjusted House Price Index (HPI). This is the twelfth consecutive quarterly price increase in the HPI.Click to continue

FHFA Reaches $3.15 Billion MBS Settlement With Goldman Sachs

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The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, has announced it has reached a settlement with Goldman Sachs, related companies and certain named individuals. The settlement addresses claims alleging violations of federal and state securities laws in connection with private-label mortgage-backed securities (PLS) purchased by Fannie Mae and Freddie Mac between 2005 and 2007.Click to continue

FHFA: Monthly Refi Volume Rises in June

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The Federal Housing Finance Agency (FHFA) has reported that the total volume of mortgage refinances increased slightly in June as mortgage rates decreased from May, according to FHFA's Second Quarter 2014 Refinance Report. Total refinance volume for the second quarterClick to continue

USMI Responds to FHFA Request for Input

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USMI has submitted its response to the Federal Housing Finance Agency (FHFA) request for input (RFI) regarding the guarantee fees (g-fees) that Freddie Mac and Fannie Mae charge to lenders. The RFI follows FHFA's suspension in January 2014 of proposed increases to g-fees. USMI comments focused on the following key issues:Click to continue