Fannie Mae

CFPB

GSE exemption to stay in place until underwriting rule finished: CFPB

The agency confirmed that loans backed by Fannie Mae and Freddie Mac can continue avoiding debt-to-income limits as the bureau completes a revamp of the Qualified Mortgage standard.

By Kate Berry

October 20

“We knew when the bureau first issued the QM rule that the patch was set to expire in 2021, and recognizing that ... we issued a general QM proposal just a few months ago,” CFPB Director Kathy Kraninger said.

ESG

How lenders aim to profit from climate change

HSBC, Bank of the West and Fannie Mae are among those offering green mortgage bonds, financing commercial clients’ efforts to rein in carbon emissions and developing other novel products that help customers tackle environmental challenges.

By Laura Alix

October 6

Solar panel technician installing solar panels on roof.

FSOC

Oversight council warns of systemic threat from Fannie, Freddie

The Financial Stability Oversight Council said the mortgage giants may need a bigger capital cushion than their regulator has proposed, but stopped short of designating them as “systemically important financial institutions.”

By Hannah Lang

September 25

The council's announcement came weeks after the public comment period closed on the Federal Housing Finance Agency’s post-conservatorship capital framework for Fannie Mae and Freddie Mac.

CFPB

CFPB missed opportunity to call out lending discrimination, critics say

The agency’s report on mortgage data submitted by lenders identified persistent disparities between white borrowers and minorities in denial rates and pricing. Some observers say the bureau should have been more explicit as the nation wrestles with systemic racism.

By Kate Berry

September 24

GSEs

Calabria to Congress: If you don’t like crisis fee, then fund GSEs

Fannie Mae and Freddie Mac have been slammed for planning an additional refinancing charge to cover COVID-related losses, but the head of the Federal Housing Finance Agency defended the policy in House testimony.

By Neil Haggerty

September 16

“By the charters of the GSEs, they are required to recapture those costs via income,” said FHFA Director Mark Calabria.

GSE reform

Could capital plan for Fannie and Freddie stymie homeownership?

The Federal Housing Finance Agency's proposal could undermine the companies’ mission to support the housing market and penalize consumers in underserved communities, industry and consumer groups say.

By Hannah Lang

September 8

CFPB

CFPB’s latest underwriting revamp seen as boon to fintechs, GSEs

The agency’s plan to extend the "qualified mortgage" stamp of approval to more loans could help lenders that rely on alternative data and cushion the blow of other QM changes for Fannie Mae and Freddie Mac.

By Kate Berry

September 2

Using alternative data means lenders often have to give up QM status, but some in the industry say that hurts borrowers' access to credit.

Deposits

PayPal picks Optus Bank, BofA's alleged sales push, Citi's snafu: Top stories of the week

Why PayPal just deposited $50 million in tiny Optus Bank; ex-Bank of America employees allege 'extreme pressure' to sell credit cards; the Citi snafu may bring fresh scrutiny to custodial banks; and more from this week's most-read stories.

August 28

Mortgages

Credit unions fear planned GSE fee could cut into mortgage profits

Refinancing has been one of the bright spots in a difficult year for lending, and the industry has concerns that a fee to be imposed by Fannie Mae and Freddie Mac could slow down the business.

By Jackie Stewart

August 28

FHFA

Agencies extend freeze on foreclosures and evictions to end of year

Both the Federal Housing Finance Agency and Federal Housing Administration are extending relief for homeowners and renters due to the pandemic crisis.

By Hannah Lang

August 27