FHFA Proposes Agency Seller/Servicer Requirement Updates

Jan 31, 2020

The Federal Housing Finance Agency (FHFA) is proposing to update the minimum financial eligibility requirements for Fannie Mae and Freddie Mac seller/servicers.

According to the agency, the most prominent change from the minimum financial requirements established in 2015 is involves new standards that establish financial requirements for the servicing of Ginnie Mae mortgages. Other changes include increasing the minimum base liquidity from 3.5 basis points (bps) to 4.0 bps and updating the incremental NPL charge from 6 percent to four percent.

The FHFA is accepting input on its proposal for the next 60 days, and feedback can be forwarded to [email protected]. The agency added that it could finalize these new requirements during the second quarter and make them effective six months after they are finalized.

Just yesterday, the FHFA announced a realignment of its structure, designed to prepare to operate more efficiently after the government-sponsored enterprises (GSEs) are released from federal conservatorship.

About the author

Phil Hall

Link copied

Published

Jan 31, 2020

Industry News

Congress Nears Final Vote On 21st Century ROAD to Housing Act

Senate voted 87-8 to advance House-amended package, with final votes expected in coming days

After months of stalled progress, the House and Senate have reached an agreement to pass the 21st Century ROAD to Housing Act (HR 6644), a sweeping housing package designed to boost housing supply and affordability.The Senate voted 87-8 on July 16 to consider the House-amend...

C-Suite Strategies

Bed Bath & Beyond Is Buying A Mortgage Company

Retailer moves deeper into housing, mortgage, title and insurance with planned acquisition of Fathom Holdings

Bed Bath & Beyond is best known for helping consumers outfit their homes. Now, the company is making a bigger bet on helping them buy and finance them.The retailer announced plans to acquire Fathom Holdings Inc., a technology-driven real estate services platform with ope...