Gov't Affairs, Govt - Nation

Nation: HUD Extends Temporary Guidance on Condos

On August 24 HUD extended its existing temporary guidance on condos, without the changes brought about in HR 3700 (Housing Opportunity Through Modernization Act). HUD continues to work on the regulatory guidance to implement the new law, but the existing guidance was set to expire. In notice 2016-13, HUD extends the existing guidance until the… Continue reading Nation: HUD Extends Temporary Guidance on Condos

Gov't Affairs, Govt - Federal, Govt - Nation, Govt - National Assoc. of Realtors® (NAR)

NAR President On Condominium Regulations

In October NAR 2015 President Chris Polychron testified before the Housing and Insurance Subcommittee of the House Financial Services Committee.  The hearing focused on H.R. 3700, the "Housing Opportunity Through Modernization Act of 2015," which NAR supports. This legislation includes a number of provisions to ease the sale and purchase of condominiums with FHA mortgage… Continue reading NAR President On Condominium Regulations

Gov't Affairs, Govt - National Assoc. of Realtors® (NAR)

FHFA Improves Note Sale Program

On March 2 the Federal Housing Finance Agency enhanced requirements for sales of non-performing loans by Freddie Mac and Fannie Mae (the GSEs).  In a letter last year NAR raised concerns that this disposition strategy gives investors an advantage over potential owner occupant buyers.  NAR requested more information on the sale of the notes and… Continue reading FHFA Improves Note Sale Program

Gov't Affairs, Govt - National Assoc. of Realtors® (NAR)

NAR Concerned About Guarantee Fees

On September 8, 2014, NAR submitted comments to FHFA in response to its Request for Input on the guarantee fees (g-fees) that Fannie Mae and Freddie Mac (the government-sponsored enterprises or Enterprises) charge lenders; and to raise concerns about implementation of the proposed increases to both the g-fee and up-front fees charged to borrowers (loan… Continue reading NAR Concerned About Guarantee Fees

Gov't Affairs, Govt - Nation

FHFA’s GSE Plan

On August 15, 2014,The Federal Housing Finance Agency (FHFA) released a Request for Input on its Strategic Plan for 2015-2019.  The plan outlines the direction that FHFA will guide the GSEs while in conservatorship. Goal 1: Ensure Safe and Sound Regulated Entities. FHFA needs to ensure that it is identifying risks to the GSEs, improving… Continue reading FHFA’s GSE Plan

Gov't Affairs, Govt - CO Assoc. of Realtors®

Colorado Association of REALTORS

NAR Consultants to Review Colo. Eminent Domain Statutes: Local governments in some states are using eminent domain to buy underwater mortgages and reduce property owner debt by refinancing the loans. FHFA has condemned the practice, which is in use in Richmond, CA and is under consideration in other cities from Seattle to Newark. The NAR… Continue reading Colorado Association of REALTORS

Gov't Affairs, Govt - Nation

FHFA Concerned about Eminent Domain Proposal

A controversial plan that would allow municipal governments to rescue underwater homeowners by taking over their loans through the power of eminent domain has been receiving some attention and consideration by several localities, most notably the City of Richmond, California.  While NAR policy leaves it to the states and not the federal government to establish… Continue reading FHFA Concerned about Eminent Domain Proposal

Gov't Affairs, Govt - Nation

The Future of the GSEs

There were more questions raised than answers provided about the future of government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac and their continued role in the secondary mortgage market at the Regulatory Issues Forum during the 2012 REALTORS® Conference & Expo in Orlando. The GSEs have too much market share, said Timothy J. Mayopoulos, Fannie… Continue reading The Future of the GSEs

Gov't Affairs, Uncategorized

Government-Sponsored Loan Delinquency Rates Down

The delinquency rate measured 12 months after origination has improved dramatically on mortgages backed by Fannie Mae and Freddie Mac. According to the FHFA’s first quarter report on the enterprises, the 12-month delinquency rate is now back to 2002 levels even though the unemployment rate is significantly higher than it was in 2002 and price… Continue reading Government-Sponsored Loan Delinquency Rates Down