The Federal Housing Finance Agency (FHFA) has finalized its rule governing the required capital structures for Fannie Mae and Freddie Mac.
FHFA Director Mark Calabria said the rule ensures the safety and soundness of the enterprises.
However, National Association of Realtors (NAR) President Charlie Oppler said the proposal could significantly raise costs for consumers, hamper the GSEs’ ability to support underserved markets and undermine reforms made over the last decade. Read on for more from FHFA and NAR.
The Department of Housing and Urban Development (HUD) has published a final rule in the Federal Register which provides a revised structure for the payments HUD makes to states participating as State Administrative Agencies (SAA) in the manufactured housing program.
The final rule revises the state payment formula so payments are more in line with the level of manufactured housing production.
Read on for more details from HUD.
State regulators are advising individuals and businesses that provide mortgage, money transmission, debt collection and consumer financial services to renew their licenses in the Nationwide Multistate Licensing System (NMLS) early to avoid processing delays.
Kelly O’Sullivan, chair of the NMLS Policy Committee, said early renewal will help ensure businesses and states facing operational challenges due to the pandemic can operate uninterrupted in the new year.
Read on to learn more.
The Consumer Financial Protection Bureau (CFPB) private education loan ombudsman has issued its 2020 annual report.
The report showed a decrease in the number of consumer complaints related to private or federal student loans.
Read on for details from the CFPB’s report.
The Department of Housing and Urban Development (HUD) is making more than $1.3 billion in funding available to Florida, which the agency said will immediately help Floridians recover from Hurricane Michael and assist the investment in large-scale disaster mitigation projects.
Read on for details from HUD on the funding, available in part through the new Community Development Block Grant, Mitigation Program.
The Department of Housing and Urban Development (HUD) announced more than half a million dollars in additional funding to HUD Fair Housing Assistance Program agencies in 12 states to support activities related to COVID-19.
The awards are part of $1.5 million in Partnership and Special Enforcement Effort funds provided through the CARES Act.
Read on for details from HUD on what the money will be used for.
The Consumer Bankers Association has elected Christine Channels, head of community banking and client protection at Bank of America, as chair of the Board of Directors and Michelle Lee, executive vice president, head of Eastern region, consumer banking at Wells Fargo, as chair-elect. Read on for comments from CBA President and CEO Richard Hunt.
The National Association of Realtors (NAR) is asking the Federal Housing Finance Agency (FHFA) to reconsider its proposed rule regarding capital standards at Fannie Mae and Freddie Mac.
FHFA said its re-proposed capital rule for the government-sponsored enterprises (GSEs) would strengthen Fannie and Freddie so they can continue to serve the mortgage market and help low- and moderate- income households access credit throughout the economic cycle.
Read on for NAR’s take.
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