Agency | GSE News

This topic consolidates all announcements, newsletters, bulletins, handbook/guide updates, and general news coming from FHFA, Fannie Mae, FHA, Freddie Mac, GNMA, RHS, and VA.




June 23, 2018

Ginne Mae Notes and News No. 32 Issuer Operational Performance Profile Enhancements Overview

In June 2017 Ginnie Mae developed and released key metrics and scoring enhancements to the Issuer Operational Performance Profile (IOPP) tool. In addition to enhancing the user experience, these enhancements successfully:

  • incorporated new metrics,
  • provided issuers with metric details,
  • adjusted treatment of null metrics,
  • incorporated metric null assignments,
  • added absolute tier assignments,
  • created additional peer group designations,
  • removed ultimate parent relationships,
  • hid pending metrics from reporting, and
  • improved report performance.
...

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June 22, 2018

New York Fed report finds CFPB oversight does not significantly reduce volume of mortgage lending

Buckley Sandler, LLP--InfoBytes Blog

The Federal Reserve Bank of New York (New York Fed) released a June 2018 Staff Report titled “Does CFPB Oversight Crimp Credit?” which concludes that there is little evidence that CFPB oversight significantly reduces the overall volume of mortgage lending. The report compared the lending outcomes of companies subject to CFPB oversight with smaller institutions below $10 billion...

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June 22, 2018

Massive Gov Overhaul Impacts USDA Rural Housing

Mortgage Daily--Mortgage Daily Staff

A sweeping consolidation of the federal government proposed by the Donald J. Trump administration would have government-backed rural housing finance changing agencies.Currently, the Single Family Housing Guaranteed Loan Program is utilized for financing rural properties and is administered by the U.S. Department of Agriculture."This program assists approved lenders in providing low- and moderate-income households the opportunity to...

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ACES Automated Document Manager

June 22, 2018

Fannie, Freddie dual AUS transforms mortgage industry

HousingWire--Kelsey Ramírez

The new one-click dual AUS submissions for Fannie Mae and Freddie Mac loans is just over two months old, and it is already beginning to transform the mortgage industry.

Back in April, digital mortgage point-of-sale software provider Cloudvirga announced it launched single-click submission of loan data to both GSEs’ automated underwriting systems in collaboration with Freddie Mac.

Now, at the NEXT Women’s Mortgage Tech conference in...

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June 22, 2018

Freddie Mac wants to help you understand borrower evolution

Mortgage Professional America--Steve Randall

The way mortgage borrowers are evolving is the subject of a new campaign by Freddie Mac.

The corporation aims to help mortgage originators better understand how customers’ needs are changing and driving housing demand.

It’s Borrower of the Future campaign will include white papers, reports, articles, and other content, drawing on its unique data resources, insights, and...

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June 22, 2018

174 Congress members pressure Carson to finalize FHA condo rules

Housingwire--Jeremiah Jensen

Congress members and National Association of Realtors teamed up to put pressure on Department of Housing and Urban Development Secretary Ben Carson to finalize the rules regarding condos and Federal Housing Administration loan approval. Members of both parties, include 54 Senators and 120 members of the House of Representatives, signed a letter asking Carson to get a move on and finalize the rules in H.R. 3700.

Congress...

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June 21, 2018

Ginnie Mae Introduces Prepayment Metric for Issuer Monitoring

Mortgage Action Alliance (MAA) The Grassroots Newsletter, Volume XII | Issue 23 | June 21, 2018

In a release last Thursday, Ginnie Mae announced the addition of a new prepayment rate metric for its single-family issuers. The new metric will be designed to allow issuers to better assess the prepayment rates of loans that they deliver into Ginnie Mae securities...

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Surviving an Onsite Audit

June 21, 2018

OCC Reports First Quarter 2018 Bank Trading Revenue

WASHINGTON — The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and federal savings associations of $8.2 billion in the first quarter 2018, which was $3.2 billion, or 62.8 percent, higher than the previous quarter.

In the report, Quarterly Report on Bank Trading and Derivatives Activities, the OCC also noted that trading revenue in...

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June 21, 2018

Freddie Mac UCD Edits Will Turn Critical on June 25…Are You Ready?

Currently, Freddie Mac Loan Selling AdvisorSM checks for a successful Uniform Closing Dataset (UCD) XML file submission and issues a "warning" edit if the UCD XML and embedded borrower Closing Disclosure PDF are not provided.

Next week, that all changes.

Beginning June 25, 2018, the UCD edits in Loan Selling AdvisorSM will transition from "warning" to "critical". Please remember to submit the...

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June 20, 2018

USDA Proposed Rule - Single Close Construction

On June 20, 2018, the SFHGLP published a proposed rule with changes to the Single Close Construction program.  Instructions for providing comments are included in the Federal Register Notice.

Questions regarding this announcement may be directed to SFHGLP in the Rural Housing National Office at 202-720-1452.

...

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