Releases, Statements, Speeches and Testimony



FHFA Announces Enhancements to Fannie Mae and Freddie Mac’s Radon Standards for Multifamily Properties390791/19/2023 5:00:00 AMNews Release<p>​<strong>​​​​​​​​​​​​​​​​​Washington, D.C.</strong> – The Federal Housing Finance Agency (FHFA) today announced enhancements to Fannie Mae and Freddie Mac’s (the Enterprises) multifamily radon standards. The Enterprises’ aligned radon standards will require additional radon testing for multifamily properties with loan applications received after June 30, 2023.</p><p>“The Enterprises’ adoption of enhanced radon testing requirements during <a href="https&#58;//www.epa.gov/radon/national-radon-action-month-information" class="external-link">National Radon Action Month</a> will help ensure that multifamily properties with hazardous levels of radon are more accurately identified and properly mitigated,” said Director Sandra L. Thompson. “FHFA and the Enterprises are committed to providing safe and sustainable housing opportunities for renters, while ensuring a strong and liquid multifamily mortgage market.”</p><p>Enhancements to these radon standards will require testing at Enterprise-backed multifamily properties, regardless of where the property is located (subject to some exceptions and deferrals), in addition to&#58;</p><ul><li style="font-size&#58;14px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;line-height&#58;1.4 !important;">Increasing the amount of required testing from 10 percent of ground floor units to 25 percent of ground floor units;</li><li style="font-size&#58;14px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;line-height&#58;1.4 !important;">Requiring an environmental professional to oversee radon testing;</li><li style="font-size&#58;14px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;line-height&#58;1.4 !important;">Requiring the environmental professional or property representative to notify tenants of radon testing; and</li><li style="font-size&#58;14px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;line-height&#58;1.4 !important;">​Providing additional guidance for lenders and environmental consultants on the Enterprises’ radon standards. As part of such guidance, the Enterprises will reinforce the need for compliance with state and local radon laws.</li></ul><p>The Enterprises will also collaborate with housing providers, radon industry stakeholders, and the Centers for Disease Control and Prevention (CDC) to encourage better radon data collection at multifamily properties. </p><p>FHFA and the Enterprises’ joint determination to enhance Enterprise radon standards is the result of extensive research and stakeholder outreach, including a <a href="/Videos/Pages/Multifamily-Radon-Standards.aspx">2021 li​stening s​ession</a> with over 485 participating stakeholders. That listening session identified opportunities and challenges to address radon exposure at Fannie Mae- and Freddie Mac-backed multifamily properties and improve radon data collection.</p><p>FHFA will continue to monitor the multifamily mortgage market and will coordinate with the U.S. Environmental Protection Agency (EPA) in its continuing efforts to address radon. Further adjustments may be warranted based on results from an evaluation of the Enterprises’ radon testing standards to ensure they are comprehensive, data informed, fully understood by property owners, and properly implemented and enforced.</p><p><a href="/Media/Blog/Pages/FHFA-Increases-Radon-Testing-Requirements-at-Enterprise-Backed-Multifamily-Properties.aspx">FHFA Increases Radon Testing Requirements at Enterprise-Backed Multifamily Properties</a></p>1/19/2023 6:31:11 PMWashington, D.C. – The Federal Housing Finance Agency (FHFA) today announced enhancements to Fannie Mae and Freddie Mac’s (the Enterprises) multifamily radon standards 2267https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Announces Updates to the Enterprises’ Single-Family Pricing Framework390751/19/2023 5:00:00 AMNews Release<p>​<strong>​​​​​​​​​Washington, D.C.</strong>&#160;– The Federal Housing Finance Agency (FHFA) today announced further changes to Fannie Mae’s and Freddie Mac’s (the Enterprises) single-family pricing framework by introducing redesigned and recalibrated upfront fee matrices for purchase, rate-term refinance, and cash-out refinance loans. </p><p>“These changes to upfront fees will strengthen the safety and soundness of the Enterprises by enhancing their ability to improve their capital position over time,” said Director Sandra L. Thompson. “By locking in the upfront fee eliminations announced last October, FHFA is taking another step to ensure that the Enterprises advance their mission of facilitating equitable and sustainable access to homeownership.”​​<br></p><p>The priorities outlined in the <a href="/Media/PublicAffairs/Pages/FHFA-Releases-2022-Scorecard-for-Fannie-Freddie-and-CSS.aspx">2022</a> and <a href="/Media/PublicAffairs/Pages/FHFA-Releases-2023-Scorecard-for-Fannie-Freddie-and-CSS.aspx">2023</a> Scorecards for the Enterprises include developing a pricing framework to maintain support for single-family purchase borrowers limited by weal​th or income, while also ensuring a level playing field for large and small sellers, fostering capital accumulation, and achieving commercially viable returns on capital.</p><p>Today’s pricing changes broadly impact purchase and rate-term refinance loans and build on upfront fee changes announced by FHFA in <a href="/Media/PublicAffairs/Pages/FHFA-Announces-Targeted-Increases-to-Enterprise-Pricing-Framework.aspx">January</a> and <a href="/Media/PublicAffairs/Pages/FHFA-Announces-Targeted-Pricing-Changes-to-Enterprise-Pricing-Framework.aspx">October</a> 2022, which have been integrated into the new grids. The new fee matrices consist of three base grids by loan purpose for purchase, rate-term refinance, and cash-out refinance loans—recalibrated to new credit score and loan-to-value ratio categories—along with associated loan attributes for each.</p><p>The updated fees will take effect for deliveries and acquisitions beginning May 1, 2023, to minimize the potential for market or pipeline disruption.</p><p> <a href="https&#58;//singlefamily.fanniemae.com/media/document/pdf/lender-letter-ll-2023-01-new-loan-level-price-adjustment-framework" class="external-link">Fannie Mae Lender Announcement</a></p><p> <a href="https&#58;//guide.freddiemac.com/app/guide/bulletin/2023-1" class="external-link">Freddie Mac Guide Bulletin Announcement</a></p>1/19/2023 4:08:26 PMHome / Media / FHFA Announces Updates to the Enterprises’ Single-Family Pricing Framework News Release 12715https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Releases 2023 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions389401/4/2023 5:00:00 AMNews Release<p>​<strong style="font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;">Washington, D.C.</strong>&#160;– Today, the Federal Housing Finance Agency (FHFA) released the 2023 Scorecard for Fannie Mae and Freddie Mac (together, the Enterprises) and their joint venture, Common Securitization Solutions, LLC (CSS). Each year, FHFA releases an annual Scorecard to communicate and provide public awareness of its priorities and expectations for the Enterprises and CSS.<br></p><p>“The annual Scorecard is an important tool for ensuring that the Enterprises operate in a safe and sound manner and fulfill their mission requirements,&quot; said FHFA Director Sandra L. Thompson. “The 2023 Scorecard builds on the progress made in 2022 to strengthen the Enterprises' capital position while advancing equitable and sustainable access to homeownership and rental housing.&quot;<br></p><p>The 2023 Scorecard focuses on specific Enterprise goals that address affordability, fair lending, and equity, in addition to modernizing single-family appraisal processes and continuing to prioritize climate risks. The Scorecard also ensures that the Enterprises employ effective risk management systems and maintain sufficient liquidity to sustain operations through severe stress events. <br></p><p><span style="text-decoration&#58;underline;"><strong><a href="/AboutUs/Reports/ReportDocuments/2023-Scorecard.pdf">2023 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions</a>​</strong></span><span style="text-decoration&#58;underline;"><strong> ​</strong></span></p>1/4/2023 6:00:30 PMWashington, D.C. – Today, the Federal Housing Finance Agency (FHFA) released the 2023 Scorecard for Fannie Mae and Freddie Mac (together, the Enterprises) and their joint venture 3159https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx