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Welcome to the Industry page of FHFA’s website.  This page provides consolidated resources for small and large companies, trade groups, advocacy organizations, vendors, originators, servicers, investors, and mortgage insurers, among others who are interested in the nation’s housing finance system. 


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 Related Information



Refinance Report - October 201825938<h2>October&#160;2018&#160;Highlights&#160;</h2><ul><li><p>Total refinance volume increased in October 2018 after falling throughout most of the year in response to rising mortgage rates. Mortgage rates increased in October&#58; the average interest rate on a 30‐year fixed rate mortgage rose to 4.83 percent from 4.63 percent in September.</p> </li></ul><blockquote style="margin&#58;0px 0px 0px 40px;padding&#58;0px;border&#58;currentcolor;"><p style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;"> <span style="border-color&#58;currentcolor;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">In&#160;October 2018&#58;</span></p></blockquote><ul><ul><li>Borrowers completed 507 refinances through HARP, bringing total refinances from the inception of the program to 3,493,512.</li><li>HARP volume represented 1 percent of total refinance volume.</li><li>Six percent of the loans refinanced through HARP had a loan‐to‐value ratio greater than 125 percent.</li></ul></ul><blockquote style="margin&#58;0px 0px 0px 40px;padding&#58;0px;border&#58;currentcolor;"><p>​Year to date through&#160;October 2018&#58;&#160;</p></blockquote><ul><ul><li>Borrowers with loan‐to‐value ratios greater than 105 percent accounted for 16 percent of the volume of HARP loans.</li><li> <span style="border-color&#58;currentcolor;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Thirty‐four percent of HARP refinances for underwater borrowers were for shorter‐term 15‐ and 20‐year mortgages, which build equity faster than traditional 30‐year mortgages.</span></li><li>HARP refinances represented 2 percent of total refinances in Florida, Georgia and Illinois compared to 1 percent of total refinances nationwide over the same period.</li></ul></ul><ul><li>Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.<br></li><li> <span style="color&#58;#444444;font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;inherit;">Nine states and one territory accounted for over 70 percent of the nation's HARP eligible loans with a refinance incentive as of June 30, 2018.</span></li></ul>12/13/2018 4:00:43 PMHome / About FHFA / Reports / Refinance Report - October 2018 Refinance Report 135https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Fannie Mae and Freddie Mac Single-Family Guarantee Fees in 201719965<p>​Section 1601 of the Housing and Economic Recovery Act of 2008 (HERA) requires the Federal Housing Finance Agency (FHFA) to conduct an ongoing study of the guarantee fees charged by Fannie Mae and Freddie Mac (the Enterprises) and to submit a report to Congress each year. &#160; The report is required to contain an analysis of the average guarantee fee and a breakdown by product type, risk class, and volume of a lender’s business.&#160; The report also must analyze the costs of providing the guarantee and provide a comparison to the prior year.&#160; FHFA issued the first single-family guarantee fee report in 2009.&#160; <br></p><p>This report discusses the guarantee fees charged in 2017 and provides a five-year perspective with data back to 2013.&#160; The major findings in this report are&#58;</p><ul><li>For all loan products combined, the average single-family guarantee fee in 2017 remained unchanged from last year’s fee of 56 basis points.&#160; The upfront portion of the guarantee fee, which is based on the credit risk attributes (e.g., loan purpose, loan-to-value ratio, and credit score), fell 1 basis point to 15 basis points.&#160; The ongoing portion of the guarantee fee, which is based on the product type (fixed-rate or ARM, and loan term) increased 1 basis point to 41 basis points.</li><li>The average guarantee fee in 2017 on 30-year fixed rate loans fell by 1 basis point to 59 basis points, while the fee on 15-year fixed rate loans increased by 1 basis point to 38 basis points. The fee on adjustable-rate mortgage (ARM) loans fell 1 basis point to 58 basis points.</li><li>Higher interest rates in 2017 led to a smaller share of both rate-term refinances and 15-year loans acquired by the Enterprises.&#160; The larger share of purchase loans and a growing focus on pilot programs for first-time homebuyers and affordable housing led to a slight increase in the share of loans with higher loan-to-value (LTV) ratios and lower credit scores.</li><li>In 2017, the Enterprises began using FHFA’s Conservatorship Capital Framework (CCF) to calculate the cost of holding capital.&#160; The overall expected profitability of the loan acquisitions was nearly unchanged and in-line with the targeted level.&#160; The Enterprises measure expected profitability as the difference between the total charged guarantee fee and estimated costs, including a targeted return on the capital requirement calculated for these loans. <br></li></ul><p>Questions and comments about this report may be addressed to FHFA at&#58; <a href="/AboutUs/Contact/Pages/General-Questions-and-Comments.aspx">https&#58;//www.fhfa.gov/AboutUs/Contact/Pages/General-Questions-and-Comments.aspx</a>.</p><p><a href="/Media/PublicAffairs/Pages/FHFA-Issues-2017-Report-to-Congress-on-Guarantee-Fees.aspx">Related News Release</a></p>12/10/2018 6:00:44 PMHome / About FHFA / Reports / Fannie Mae and Freddie Mac Single-Family Guarantee Fees in 2017 Single 326https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Enterprise Non-Performing Loan Sales Report - June 201825864<p>The Federal Housing Finance Agency (FHFA) today released its semiannual report&#160;providing information about the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises).&#160; The <a href="/AboutUs/Reports/ReportDocuments/June2018_NPL_Sales_Report.pdf"><em>Enterprise Non-Performing Loan Sales Report</em></a><em>&#160;</em> includes information about NPLs sold through June 30, 2018.&#160; It reflects borrower outcomes as of June 30, 2018, based on the 88,200 NPLs that settled by December 31, 2017.&#160;&#160;The sale of NPLs reduces the number of severely delinquent loans in the Enterprises' portfolios. FHFA and the Enterprises impose <a href="/Media/PublicAffairs/Pages/Enhanced-Non-Performing-Loan-Sale-Guidelines.aspx">requirements</a> on NPL buyers &#160;to encourage prioritization of outcomes for borrowers other than foreclosure.&#160;&#160;This report shows that, through June 30, 2018, the Enterprises sold 98,061 NPLs representing a total unpaid principal balance (UPB) of $18.7 billion. </p><p> <a href="/Media/PublicAffairs/Pages/FHFA-Releases-New-Report-on-Non-performing-Loan-Sales-1242018.aspx">Related News Release</a></p>12/4/2018 4:00:29 PMHome / About FHFA / Reports / Enterprise Non-Performing Loan Sales Report - June 2018 Enterprise 181https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Releases New Report on Non-performing Loan Sales25871<p> <strong>Washington, D.C.</strong> – The Federal Housing Finance Agency (FHFA) today released its semiannual report providing information about the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises).&#160; The Enterprise Non-Performing Loan Sales Report includes information about NPLs sold from August 1, 2014 through June 30, 2018, and reflects borrower outcomes as of June 30.&#160; The sale of NPLs reduces the number of delinquent loans in the Enterprises' portfolios and transfers credit risk to the private sector. &#160;FHFA and the Enterprises impose <a href="/Media/PublicAffairs/Pages/Non-Performing-Loan-Sale-Guidelines.aspx">requirements</a> on NPL buyers designed to achieve more favorable outcomes for borrowers than foreclosure.&#160; </p><p>The new report shows that, through June 30, 2018, the Enterprises sold 98,061 NPLs with a total unpaid principal balance (UPB) of $18.7 billion. </p><ul><li>In the first half of 2018, 7,140 NPLs were sold, compared to 18,419 total NPLs sold in 2017.</li><li>NPLs sold through the first half of 2018 had an average delinquency of 3.1 years and an average current loan-to-value ratio of 95 percent (not including capitalized arrearages).</li><li>New Jersey, New York, and Florida accounted for 46 percent of NPLs sold. &#160;These three states also accounted for 47 percent of the Enterprises' loans that were 1 year or more delinquent as of December 31, 2014, prior to the start of NPL programmatic sales in 2015.</li><li>From December 31, 2015 to June 30, 2018 the number of loans one or more years delinquent held in the Enterprises' portfolio decreased by 61 percent.</li></ul><p>The borrower outcomes in this report are as of June 30, 2018 and are based on the 88,200 NPLs that were settled by December 31, 2017. &#160;These outcomes reflect the following&#58;&#160;&#160;</p><ul><li>As of June 30, 2018, 62 percent of these NPLs had been resolved.</li><li>Compared to a benchmark of similarly-delinquent Enterprise NPLs that were not sold, foreclosures avoided for sold NPLs were higher than the benchmark.&#160; </li><li>NPLs on homes occupied by borrowers had the highest rate of foreclosure avoidance outcomes (28.2 percent foreclosure avoided versus 12.7 percent for vacant properties).</li><li>NPLs on vacant homes had a much higher rate of foreclosure, more than double the foreclosure rate of borrower-occupied properties (65.9 percent foreclosure versus 28.6 percent for borrower occupied properties). &#160;Foreclosures on vacant homes typically improve neighborhood stability and reduce blight as the homes are sold or rented to new occupants.</li><li>Twenty percent of the permanent modifications of NPLs incorporated arrearage and/or principal forgiveness. &#160;The average forgiveness earned per loan to date was $55,280 (with the potential to earn an average forgiveness of $77,491). </li></ul><p>FHFA will continue to provide reporting on NPL sales borrower outcomes on an ongoing basis. </p> <a href="/AboutUs/Reports/ReportDocuments/June2018_NPL_Sales_Report.pdf">Link to Non-Performing Loan Sales Report</a><br><br> <a href="/PolicyProgramsResearch/Policy/Pages/Non-Performing-Loan-Sales.aspx">Link to NPL page on FHFA.gov</a>12/4/2018 4:00:31 PMHome / Media / FHFA Releases New Report on Non-performing Loan Sales News Release In the first half of 2018 889https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Index Shows Mortgage Rates Increased in October 201825733<p>​<strong>Washington, D.C. </strong>- Nationally, interest rates on conventional purchase-money mortgages increased from September to October, according to several indices of new mortgage contracts.</p><p> <strong>The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index </strong>was 4.75 percent for loans closed in late October, up 13 basis points from 4.62 percent in September.</p><p> <strong>The average interest rate on all mortgage loans </strong>was 4.72 percent, up 9 basis points from 4.63 in September.</p><p> The average interest rate on conventional, 30-year, fixed-rate mortgages of $453,100 or less was 4.87 percent, up 10 basis points from 4.77 in September.</p><p> The effective interest rate on all mortgage loans was 4.81 percent in October, up 9 basis points from 4.72 in September. &#160;The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.</p><p> The average loan amount for all loans was $315,100 in October, up $9,000 from $306,100 in September.</p><p>FHFA will release November index values Thursday, December 27, 2018.</p><p>For more information, call David Roderer at (202) 649-3206.&#160; To hear recorded index information, call (202)649-3993.&#160; To find the complete contract series, go to&#160;<a href="/DataTools/Downloads/Pages/Monthly-Interest-Rate-Data.aspx">https&#58;//www.fhfa.gov/DataTools/Downloads/Pages/Monthly-Interest-Rate-Data.aspx</a>. </p><p><img class="ms-rtePosition-4" alt="NACM_11292018.PNG" src="/Media/PublicAffairs/PublishingImages/Pages/Forms/EditForm/NACM_11292018.PNG" style="margin&#58;5px;" />&#160;</p><p>Source&#58; FHFA</p><p>Technical note&#58; The indices are based on a small monthly survey of mortgage lenders, which may not be&#160;representative.&#160; The sample is not a statistical sample but is rather a convenience sample.&#160; Survey&#160;respondents were asked to report terms and conditions of all conventional, single-family, fully amortized&#160;purchase-money loans closed during the last five working days of the month.&#160; Unless otherwise specified,&#160;the indices include 15-year mortgages and adjustable-rate mortgages.&#160; The indices do not include mortgages guaranteed or insured by either the Federal Housing Administration or the U.S. Department&#160;of Veterans Affairs.&#160; The indices also exclude refinancing loans and balloon loans.&#160; October 2018 values are based on 3,869 reported loans from 16 lenders, which include savings associations, mortgage&#160;companies, commercial banks, and mutual savings banks.</p> <table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody></tbody></table>11/29/2018 1:30:46 PMHome / Media / FHFA Index Shows Mortgage Rates Increased in October 2018 News Release 904https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx

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