FHFA Limiting Fannie Mae and Freddie Mac Loan Purchases to “Qualified Mortgages”

Fannie Mae and Freddie Mac will limit future mortgage acquisitions to loans that meet the requirements for a qualified mortgage. This new development takes effect in January.

Credit Unions: CFPB QM Rule Will Make it Harder for Americans to Buy Homes

Northwest credit union lenders are concerned the CFPB’s Qualified Mortgage Rule will have the unintended consequence of squeezing Americans out of home ownership. The House Financial Services Subcommittee on Financial Institutions heard testimony from the credit union movement this week.

FHFA Issues New Standard Short Sale Guidelines

The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac are issuing new guidelines to their mortgage servicers to standardize short sale practices that will go into effect Nov. 1.

Administration Enhances Foreclosure-Help Program

The Federal Housing Finance Agency announced changes to the Home Affordable Refinance Program to attract more underwater borrowers who could benefit from refinancing their home mortgages.