Category Archives: Finance

FHFA Performance & Accountability

Posted on by NAWRB

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The Housing and Economic Recovery Act of 2008 (HERA) established the Federal Housing Finance Agency (FHFA) to supervise and regulate the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal Home Loan (FHL) Bank System. The FHFA is an independent government agency that employs examiners, analysts, attorneys and industry experts. Congress provided the Director of the FHFA the authority to appoint the FHFA as the conservator of Fannie Mae and Freddie Mac and this authority was utilized in 2008.

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Will Bank of America’s New Loan Program Boost Homeownership?

Posted on by NAWRB
Blog_house1
23 Feb

The Federal Housing Administration (FHA) offers home loans that allow low down payments, as low as 3.5 percent; these loans however, need to be backed by private mortgage insurance, meaning an additional cost to already overextended homebuyers. Bank of America is set to launch a new program that will let homebuyers make a down payment of 3 percent, without mortgage insurance. Will this program boost homeownership?

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Fannie Mae Sells Largest Number of Non-Performing Loans to Date

Posted on by nawrbBlogger
Blog_Fannie
11 Feb

Fannie Mae began its official sale of Non-Performing Loans (NPLs) in April 2015 and since then has sold thousands of seriously delinquent loans. These sales are conducted based on guidelines provided by the Federal Housing Finance Agency (FHFA) and require buyers, as articulated on Fannie Mae’s website, “to offer loan modifications to borrowers and provide foreclosure alternatives whenever possible.”

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The Enterprises Announce their Independent Dispute Resolution (IDR) Process

Posted on by nawrbBlogger
Blog_IDR
03 Feb

On Tuesday, February 2, the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac introduced the Independent Dispute Resolution (IDR) process to help resolve mortgage repurchase related issues. Though the IDR does not annex the Enterprises’ authority over appeals, it allows lenders to approach an independent third-party entity with loan disputes that remain unresolved after undergoing an appeals process. The IDR is meant to ensure faster resolution of such loan breaches and avoid prolongation of the process.

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Cities Where You Can Pay Off Your Mortgage the Fastest

Posted on by nawrbBlogger
Blog_cloudshouse
27 Jan

What are my payments, what is the interest rate and how long will it take me to pay this off? Those are the big three factors we all consider when we have settled on a significant new purchase and especially the biggest purchase of most people’s lives, a new home. The lowest the answer to these three questions the better for the homebuyer, who is typically on the hook for either 15- or 30-year mortgage agreements.

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Protect Yourself from Mortgage Assistance Scams

Posted on by nawrbBlogger
scam
09 Jun

A recent uncovering of a mortgage assistance scheme involving a Detroit man and his “faith-based” company has borrowers asking, “How do we protect ourselves from foreclosure relief scams?” Freddie Mac offers tips to help borrowers become cautious of companies that seem too good to be true.

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