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.

February 22, 2019

Freddie Mac True Lies Real-World Tales of Fraud

Welcome to True Lies, a new bimonthly series from Freddie Mac that will share real stories from our Fraud Investigation Unit’s experiences in the field.

 Statistics on fraud can reveal a problem, but “True Lies” will spotlight more than trend data. Here are a few topics, based on actual investigations, that we'll share with you over the coming months -...

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February 21, 2019

Freddie Mac Coming Feb. 25 – Loan Selling Advisor Import Cash Contract Capability

New Import Cash Contract Capability Coming Soon  Last April, we introduced optional fields for Cash-Released XChangeSM clients to improve price certainty when requesting a contract-level Freddie Mac Price Sheet or when creating a contract using the Loan Purchase Contract Terms screen. Beginning February 25, Sellers that sell for cash, regardless of the selected servicing option, will be able to import...
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February 20, 2019

VA Circular 26-19-5, Change 1, VA-Guaranteed Cash-Out Refinancing Home Loans (AQ42)

1. Purpose. The purpose of this Circular is to make a change to page 4, section d, subsection (3), of Circular 26-19-05. 

2. Therefore, Circular 26-19-05 is changed as follows: 

Page 4, section d, subsection (3): replace the entirety of subsection (3) as follows: 

(3) For loans being refinanced within 1 year from the date of closing, lenders must obtain a...

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ARMCO Mortgage QC Industry Trends Report

February 20, 2019

RHS PN 521 Announces Revisions to Handbook 1-3555

Chapter 4: Chapter 4 is partially revised to update regulatory references, remove unnecessary or repetitive language and to update the lender’s reporting and oversight requirements. 

Under 4.4, replaced ‘‘RESPA’’ with ‘‘Bureau of Consumer Financial Protection (BCFPB).’’ 

Under 4.6 (A), added guidance on accessing duplicate copies of the LNG electronically. 

Under 4.8, added lender responsibility in managing counterparty and third-party providers. 

Under 4.12, changed the...

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February 20, 2019

Fannie Mae ICYMI Selling Guide 2019, AAA Matrix Updates, and More

Selling News

Don’t miss a beat in 2019

Check out In Case You Missed It 2019 for an overview of Selling Guide updates, Lender Letters, and Desktop Underwriter®/Desktop Originator® release notes. Looking for a policy update from 2018? Last year’s In Case You Missed It is still available, too.

In Case You Missed It 2019 

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February 20, 2019

HUD awards $10 million in "sweat equity" grants

HousingWire--Ben Lane

The Department of Housing and Urban Development announced this week that it is awarding $10 million in “sweat equity” grants to a group of nonprofit housing organizations.

The money comes from HUD’s Self-Help Homeownership Opportunity Program. The funds, combined with labor contributed by the homebuyers and volunteers, will lower the cost of homeownership for certain buyers.

According to HUD...

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February 19, 2019

How the End of HARP Impacted the GSEs

MReport--Radhika Ojha

Rising mortgage rates in the previous months resulted in a decrease in the total refinances at the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac in December 2018, according to the Q4 Refinance Report released by the Federal Housing Finance Agency (FHFA).

The report found that the GSEs completed 245,620 refinances in the fourth...

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Customer Testimonials

February 15, 2019

Freddie Mac Loan Product Advisor Updates Support New VA Policies, Single Security and Home Possible

We're updating Loan Product Advisor® to align with new Department of Veterans Affairs (VA) policies, the Freddie Mac Single Security Initiative and updates to Freddie Mac Home Possible®. A summary of the changes we're making include:
  • February 15, 2019 – Adding new VA policies for VA-guaranteed cash-out refinancing loans.
  • March 23, 2019 – Aligning with the requirement changes to the Freddie Mac...
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February 15, 2019

USDA Revised Area Loan Limits

Effective today, the area limits have been revised for California, Colorado, Delaware, Florida, Georgia, Hawaii, Indiana, Iowa, Maryland, Minnesota, Mississippi, Missouri, Montana, Nevada, North Carolina, North Dakota, Oklahoma, Oregon, South Dakota, Utah, Washington, West Virginia, Wisconsin, and Wyoming. Details are available at https://www.rd.usda.gov/files/RD-SFHAreaLoanLimitMap.pdf. The area loan limits for the remaining states are expected to be revised in the latter...

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February 15, 2019

FHA INFO #19-02: FHA Issues Policy Guidance on Use of Third Party Verification Services

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February 15, 2019

VA Circular 26-19-05 VA-Guaranteed Cash-Out Refinancing Home Loans (AQ42)

1. Purpose. This Circular clarifies the Department of Veterans Affairs’ (VA) new policies regarding VA-guaranteed cash-out refinancing loans, including refinancing of construction loans (construction-to-perm).

2. Background. Public Law 115-174, The Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), was signed into law by President Donald Trump on May 24, 2018. Section 309 of the Act provides new...

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