News-Releases-and-Statements.aspx | Federal Housing Finance Agency

FHFA Extends COVID-19 Multifamily Forbearance through September 30, 2021

33830

6/3/2021 4:00:00 AM

News Release

Washington, D.C. — Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will continue to offer COVID-19 forbearance to qualifying multifamily property owners through September 30, 2021, subject to the continued tenant protections FHFA has imposed during the pandemic. This is the third extension of the programs, which were set to expire June 30, 2021. “While COVID-19 cases are declining and many homeowners continue to emerge from forbearance, many renters, who are unable benefit from rising home prices, have not financially recovered from the pandemic. To help those families still struggling to pay their rent and to help multifamily property owners maintain their properties, FHFA is extending the multifamily COVID-19 forbearance and tenant protections through the end of September 2021,” said Director Mark Calabria. Property owners with Enterprise-backed multifamily mortgages can enter a new or, if qualified, modified forbearance if they experience a financial hardship due to the COVID-19 emergency. Property owners who enter into a new or modified forbearance agreement must:<ul><li>Inform tenants in writing about tenant protections available during the property owner's forbearance and repayment periods; and</li><li>Agree not to evict tenants solely for the nonpayment of rent while the property is in forbearance.</li> </ul> Additional tenant protections apply during the repayment periods. These protections include: <ul style="margin-top:0in;"> <li>Giving tenants at least a 30-day notice to vacate;</li> <li>Not charging tenants late fees or penalties for nonpayment of rent; and</li> <li>Allowing tenant flexibility in the repayment of back-rent over time, and not necessarily in a lump sum.</li> </ul> In addition to requiring written tenant notification, the Enterprises have posted the tenant protections to their respective online multifamily property lookup tool websites. The property lookup tools make it easier for tenants to find out if the multifamily property in which they reside has an Enterprise-backed mortgage. These actions are just the latest steps FHFA has taken to benefit renters, property owners and the mortgage market during the pandemic. FHFA will continue to monitor the data and the coronavirus' impact on tenants, borrowers, and the mortgage market and update policies as needed. FHFA may extend or sunset its policies based on updated data and health risks. Homeowners and renters can visit <a title="Link goes to an external web page." href="https://www.consumerfinance.gov/coronavirus/mortgage-and-housing-assistance/" target="_blank">consumerfinance.gov/housing</a> for up-to-date information on their relief options, protections, and key deadlines.

6/3/2021 1:30:32 PM

Home / Media / FHFA Extends COVID-19 Multifamily Forbearance through September 30, 2021 News Release

2556

https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspx

html

False

aspx

FHFA Releases Latest Report on Non-performing Loan Sales

33753

5/27/2021 4:00:00 AM

News Release

Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released the latest report on the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises). The Enterprise Non-Performing Loan Sales Report includes sales information about NPLs sold through December 31, 2020.  Borrower outcomes reflect NPLs sold through June 30th, 2020 and reported through December 31, 2020. The sale of NPLs reduces the number of delinquent loans in the Enterprises' portfolios and transfers credit risk to the private sector. FHFA and the Enterprises impose requirements on NPL buyers designed to achieve more favorable outcomes for borrowers than foreclosure. This report shows that from program inception in 2014 through December 31, 2020, the Enterprises sold 130,808 NPLs with a total unpaid principal balance (UPB) of $24.5 billion. The loans included in the NPL sales had an average delinquency of 2.9 years and an average current mark-to-market loan-to-value ratio of 91 percent (not including capitalized arrearages). NPL Sales Highlights:<ul><li>NPLs sold had an average delinquency of 2.9 years and an average loan-to-value ratio of 91 percent.</li><li>The average delinquency for pools sold ranged from 1.4 years to 6.2 years.</li><li>NPLs in New Jersey, New York and Florida represented nearly half (43 percent) of the NPLs sold.</li><li>Fannie Mae has sold 86,216 loans with an aggregate UPB of $15.8 billion, an average delinquency of 3.0 years, and an average LTV of 89 percent.</li><li>Freddie Mac has sold 44,592 loans with an aggregate UPB of $8.7 billion, an average delinquency of 2.8 years, and an average LTV of 95 percent. </li></ul> Borrower Outcomes Highlights:<ul style="list-style-type:disc;"><li>The borrower outcomes in the report are based on 125,750 NPLs that were settled by June 30, 2020 and reported as of December 31, 2020. </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. </li><li>NPLs on homes occupied by borrowers had the highest rate of foreclosure avoidance outcomes (40.2 percent foreclosure avoided versus 16.8 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 (76.5 percent foreclosure versus 33 percent for borrower occupied properties).  Foreclosures on vacant homes typically improve neighborhood stability and reduce blight as the homes are sold or rented to new occupants.</li><li>The average UPB of NPLs sold was $187,587. </li></ul>FHFA will continue to provide reporting on NPL sales borrower outcomes on an ongoing basis. Read the latest <a href="/AboutUs/Reports/Pages/Enterprise-Non-Performing-Loan-Sales-Report-December-2020.aspx"> Non-Performing Loan Sales Report. </a>For more information, visit the <a href="/PolicyProgramsResearch/Policy/Pages/Non-Performing-Loan-Sales.aspx">NPL page on FHFA.gov</a>.

5/27/2021 3:00:49 PM

Home / Media / FHFA Releases Latest Report on Non-performing Loan Sales News Release

1229

https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspx

html

False

aspx

U.S. House Prices Rise 12.6 Percent over the Last Year; Up 3.5 Percent in the First Quarter

33719

5/25/2021 4:00:00 AM

News Release

Washington, D.C. – U.S. house prices rose 12.6 percent from the first quarter of 2020 to the first quarter of 2021 according to the Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices were up 3.5 percent compared to the fourth quarter of 2020. FHFA's seasonally adjusted monthly index for March was up 1.4 percent from February.“House price growth over the prior year clocked in at more than twice the rate of growth observed in the first quarter of 2020, just before the effects of the pandemic were felt in housing markets," said Dr. Lynn Fisher, Deputy Director of FHFA's Division of Research and Statistics. “In March, rates of appreciation continued to climb, exceeding 15 percent over the year in the Pacific, Mountain and New England census divisions."View highlights video featuring Dr. Lynn Fisher at <a href="https://go.usa.gov/xHuY5"> https://go.usa.gov/xHuY5</a>. Significant Findings<ul><li>House prices have risen for 39 consecutive quarters, or since September 2011.</li><li>House prices rose in all 50 states and the District of Columbia between the first quarters of 2020 and 2021.  The top five states with the highest annual appreciation were: 1) Idaho 23.7 percent; 2) Utah 19.2 percent; 3) Arizona 17.4 percent; 4) New Hampshire 16.2 percent; and 5) Connecticut 15.9 percent.  The states showing the lowest annual appreciation were: 1) Hawaii 4.7 percent; 2) Louisiana 6.8 percent; 3) Wyoming 6.9 percent; 4) North Dakota 7.5 percent; and 5) Mississippi 8.1 percent.</li><li>House prices rose in 99 of the top 100 largest metropolitan areas in the U.S. over the last four quarters.  Annual price increases were greatest in Boise City, ID, where prices increased by 28.2 percent.  Prices were weakest in Urban Honolulu, HI, where they decreased by 0.7 percent.</li><li>Of the nine census divisions, the Mountain division experienced the strongest four-quarter appreciation, posting a 15.7 percent gain between the first quarters of 2020 and 2021 and a 4.8 percent increase in the first quarter of 2021. The Mountain division has led in annual growth for 14 quarters. Annual house price appreciation was weakest in the West South Central division, where prices rose by 11.1 percent between the first quarters of 2020 and 2021. </li><li>Trends in the Top 100 Metropolitan Statistical Areas are available in our interactive dashboard: <a href="/DataTools/Tools/Pages/FHFA-HPI-Top-100-Metro-Area-Rankings.aspx"> https://www.fhfa.gov/DataTools/Tools/Pages/FHFA-HPI-Top-100-Metro-Area-Rankings.aspx</a>. The first tab displays rankings while the second tab offers charts.</li></ul>The FHFA HPI is the nation's only collection of public, freely-available house price indexes that measure changes in single-family home values based on data from all 50 states and over 400 American cities that extend back to the mid-1970s.  The FHFA HPI incorporates tens of millions of home sales and offers insights about house price fluctuations at the national, census division, state, metro area, county, ZIP code, and census tract levels.  FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.FHFA releases HPI data and reports on a quarterly and monthly basis.  The flagship FHFA HPI uses seasonally adjusted, purchase-only data from Fannie Mae and Freddie Mac.  Additional indexes use other data including refinances, FHA mortgages, and real property records.  All the indexes, including their historic values, and information about future HPI release dates are available on FHFA's website: <a href="/DataTools/Downloads/Pages/House-Price-Index.aspx">https://www.fhfa.gov/HPI</a><a></a><a>.</a>Tables and graphs showing home price statistics for metropolitan areas, states, census divisions, and the U.S. are included on the following pages. Note<ul><li><div>The next monthly HPI report (including data through April 2021) will be released June 29, 2021 and the next quarterly HPI report (including data for the second quarter of 2021 and monthly data for June) will be released August 31, 2021.</div></li><li>Release dates for 2021 are posted at <a href="/DataTools/Downloads/Pages/House-Price-Index.aspx#ReleaseDates"> https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index.aspx#ReleaseDates</a>.</li><li>Follow @FHFA on Twitter, LinkedIn, Facebook, and YouTube for more HPI news.</li></ul>

5/25/2021 1:01:22 PM

Washington, D.C. – U.S. house prices rose 12.6 percent from the first quarter of 2020 to the first quarter of 2021 according to the Federal Housing Finance Agency House Price

1768

https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspx

html

False

aspx