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 Releases, Statements, Speeches and Testimony

 

 

FHFA and Treasury Allow Fannie Mae and Freddie Mac to Continue to Retain Earnings317011/14/2021 5:00:00 AMNews Release<p><strong>​Washington, D.C. </strong>– The Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury (Treasury) today announced amendments to the Preferred Stock Purchase Agreements (PSPAs). The amendments allow Fannie Mae and Freddie Mac​ (the Enterprises) to continue to retain earnings until they satisfy the requirements of the <a href="/Media/PublicAffairs/Pages/FHFA-Announces-Final-Capital-Rule-for-the-Enterprises.aspx">2020 Enterprise capital rule</a>. </p><p>“Today's agreement that allows Fannie Mae and Freddie Mac to continue retaining earnings is a step in the right direction, but more hard work remains,&quot; said FHFA Director Mark Calabria. “Capital at Fannie Mae and Freddie Mac protects the housing finance system and taxpayers. Retained earnings alone are insufficient to adequately capitalize the Enterprises. Until the Enterprises can raise private capital, they are at risk of failing in the next housing crisis.&quot; &#160;&#160;&#160;</p><p>Additionally, Treasury has agreed that the Enterprises can raise private capital and exit conservatorship once certain conditions are met. To facilitate Enterprise equity offerings, Treasury has committed to work to restructure its investment in each Enterprise.&#160;​</p><p><a href="/Media/PublicAffairs/Documents/Executed-Letter-Agreement-for-Fannie-Mae.pdf"><font color="#0066cc">Letter Agreement for Fannie Mae</font></a></p><p><a href="/Media/PublicAffairs/Documents/Executed-Letter-Agreement-for-Freddie-Mac.pdf"><font color="#0066cc">Letter Agreement for Freddie Mac</font></a><br></p>1/15/2021 3:12:17 PMWashington, D.C. – The Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury (Treasury) today announced amendments to the Preferred Stock Purchase 5493https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Further Extends COVID-Related Loan Flexibilities316991/14/2021 5:00:00 AMNews Release<p> <strong>​Washington, D.C.</strong>&#160;– The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend several loan origination flexibilities until February 28, 2021.&#160;The changes are to ensure continued support for borrowers during the COVID-19 national emergency. The flexibilities were set to expire on January 31, 2021.</p><p>Extended flexibilities include&#58;</p><ul><li>Alternative appraisals on purchase and rate term refinance loans;</li><li>Alternative methods for documenting income and verifying employment before loan closing; and</li><li>Expanding the use of power of attorney to assist with loan closings. </li></ul><p>FHFA will continue to monitor the coronavirus situation and update policies as needed. To understand the protections and assistance the government is offering people having trouble paying their mortgage, please visit the joint Department of Housing and Urban Development, FHFA, and the Consumer Financial Protection Bureau website at&#160;<a href="http&#58;//www.cfpb.gov/housing">cfpb.gov/housing</a>.</p>1/14/2021 5:00:42 PMHome / Media / FHFA Further Extends COVID-Related Loan Flexibilities News Release 1721https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Announces Fannie Mae's and Freddie Mac's Duty to Serve Underserved Markets Plans for 2021316031/5/2021 5:00:00 AMNews Release<p> <strong>Washington, D.C.</strong> – The Federal Housing Finance Agency (FHFA) today published the 2021 Underserved Markets Plans for Fannie Mae and Freddie Mac (the Enterprises) under the Duty to Serve (DTS) program.&#160; The Plans became effective January 1, 2021.</p><p>FHFA issued a&#160;<a href="/Media/PublicAffairs/Pages/FHFA-Issues-Final-Rule-on-Fannie-Mae-and-Freddie-Mac-Duty-to-Serve-Underserved-Markets.aspx">final rule</a>&#160;in 2016 that implemented the DTS provisions as mandated by the Housing and Economic Recovery Act of 2008.&#160; The statute requires the Enterprises to serve three specified underserved markets—manufactured housing, affordable housing preservation, and rural housing—by increasing the liquidity of mortgage financing for very low-, low-, and moderate-income families.&#160;&#160;</p><p>Under ordinary circumstances, each Enterprise would have submitted a three-year Plan for 2021-2023 in accordance with the DTS mandate.&#160; Due to potential market disruption and uncertainty as a result of the COVID-19 pandemic, FHFA instructed the Enterprises to submit Plans for one year (2021) only, as an extension of their 2018-2020 Plans.&#160; </p><p>The activities outlined by the Enterprises to achieve Plan objectives will remain subject to FHFA review and approval to ensure compliance with the Enterprises' Charter Acts, safety and soundness measures, and other conservatorship and regulatory requirements.</p><p>FHFA published the Plans today on its dedicated webpage,&#160;<a href="/PolicyProgramsResearch/Programs/Pages/Duty-to-Serve.aspx">www.fhfa.gov/DTS</a>.&#160;</p><p><a href="/PolicyProgramsResearch/Programs/Documents/FannieMaeDTSPlan_2018-2021.pdf">View Fannie Mae's Underserved Markets Plan</a></p><p><a href="/PolicyProgramsResearch/Programs/Documents/FreddieMacDTSPlan_2018-2021.pdf">View Freddie Mac's Underserved Markets Plan</a></p>1/5/2021 7:00:29 PMWashington, D.C. – The Federal Housing Finance Agency (FHFA) today published the 2021 Underserved Markets Plans for Fannie Mae and Freddie Mac (the Enterprises) under the Duty to 2068https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx