Federal Housing Finance Agency

KBRA Releases Research – FHFA Closed-End Seconds: Effect on PLS?

Retrieved on: 
Mittwoch, Mai 8, 2024
Professional Services, Residential Building & Real Estate, Insurance, Finance, Construction & Property, Banking, HELOC, Federal Housing Finance Agency, FHFA, PLS, RMBS, Agency, CES, Freddie Mac, Comment, Real estate

This report explores the proposal’s potential overlap with the existing second lien PLS market and the effects the program may have on the size and risk profile of the PLS market post-adoption.

Key Points: 
  • This report explores the proposal’s potential overlap with the existing second lien PLS market and the effects the program may have on the size and risk profile of the PLS market post-adoption.
  • Approximately $8.7 billion have been collateralized via second lien 2.0 PLS transactions through Q1 2024, a small but growing portion of the PLS market.
  • Assuming both GSEs were active in CES purchases, nearly 60% of the CES originated and securitized in today’s PLS market might have been eligible for the GSEs’ proposed program.
  • In general, PLS markets have capably absorbed the current flow of second lien securitization volumes, with spreads in line with the remainder of RMBS 2.0.

Freddie Mac Accepts IRS Form 8821 for Tax Transcripts, Enhancing Loan Product Advisor using Halcyon's pioneering solutions

Retrieved on: 
Mittwoch, Mai 1, 2024
DTS, Housing, BANK, AIM, IRS, PDF, Freddie Mac, Internal Revenue Service, RED, Federal Housing Finance Agency, Cryptocurrency

RED BANK, N.J., May 1, 2024 /PRNewswire/ -- In a strategic update to its Selling Guide, Freddie Mac announces the adoption of IRS Form 8821 as an alternative for obtaining tax transcript for income verification, embracing the pioneering solutions offered by Halcyon.

Key Points: 
  • RED BANK, N.J., May 1, 2024 /PRNewswire/ -- In a strategic update to its Selling Guide, Freddie Mac announces the adoption of IRS Form 8821 as an alternative for obtaining tax transcript for income verification, embracing the pioneering solutions offered by Halcyon.
  • "Based on Seller feedback, we have updated automated income assessment with Loan Product Advisor using tax data, which is part of asset and income modeler, to clarify that Internal Revenue Service (IRS) Form 8821 is an acceptable alternate form in lieu of IRS Form 4506-C.
  • By naming IRS Form 8821 specifically as an acceptable method to obtain tax transcript information for Freddie Mac's Asset and Income Modeler (AIM), both entities underscore their commitment to delivering innovative, affordable mortgage lending solutions.
  • "Our collaboration with Freddie Mac to integrate IRS Form 8821 marks a significant advancement that highlights our dedication to providing accessible, cost-effective solutions in the housing finance sector," says Kirk Donaldson, CEO of Halcyon.

FHLBank San Francisco Commits $13 Million to 2024 WISH Downpayment Assistance Grant Program, Boosting Homeownership Opportunities Across Region

Retrieved on: 
Dienstag, April 16, 2024
Learning, Housing, Federal Home Loan Banks, WISH, Individual development account, Family, Economic development, Federal Housing Finance Agency, IDA, FSS, SAN, Real estate

SAN FRANCISCO, April 16, 2024 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today announced a $13 million commitment to its 2024 WISH matching grant program to provide funding for downpayment assistance to lower-income families and individuals.

Key Points: 
  • SAN FRANCISCO, April 16, 2024 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today announced a $13 million commitment to its 2024 WISH matching grant program to provide funding for downpayment assistance to lower-income families and individuals.
  • We invite our member financial institutions to join us in this critical campaign.”
    The WISH Program exemplifies FHLBank San Francisco's enduring commitment to increasing access to homeownership.
  • Her mortgage and receipt of a WISH grant were facilitated by FHLBank San Francisco member, TruWest Credit Union.
  • Visit fhlbsf.com for more information about WISH and other FHLBank San Francisco grant programs .

ALTA Commends Leadership of House Democrats Questioning Administration's Title Waiver Program

Retrieved on: 
Mittwoch, April 17, 2024
Sale, Congress, FHFA, American Land Title Association, Ecosystem, Nickel, Risk, Policy, Housing, State-owned enterprise, Fannie Mae, Member of Congress, Freddie Mac, House, ALTA, Union, Republican, Federal Housing Finance Agency, Democrat, Enterprise Products, Letter

"While well-intentioned, this pilot program will not address the true issue of housing affordability in our communities and puts homebuyers at risk," the members wrote.

Key Points: 
  • "While well-intentioned, this pilot program will not address the true issue of housing affordability in our communities and puts homebuyers at risk," the members wrote.
  • "Title insurance professionals halt fraudulent real estate transactions such as impersonation scams, elder financial exploitation, and attempts to defraud spouses, partners, or other property heirs.
  • "On behalf of title companies in every county nationwide, who work tirelessly every day to protect the American dream of homeownership, we commend the leadership of Rep. Nickel and his Democratic colleagues in raising serious concerns about the administration's title waiver pilot program," said ALTA CEO Diane Tomb.
  • The title waiver program has faced bipartisan backlash from Members of Congress since being revived ahead of the State of the Union.

Council of Federal Home Loan Banks Applauds GAO Report Findings

Retrieved on: 
Montag, April 8, 2024
Deposit insurance, Signature, First Republic Bank, Congress, Federal Reserve Bank, Federal Home Loan Banks, Communication, FDIC, Federal Deposit Insurance Corporation, SVB, Federal, Council, Safety, Federal Housing Finance Agency, Federal Reserve, Silicon Valley Bank, Signature Bank, Bank

WASHINGTON, April 08, 2024 (GLOBE NEWSWIRE) -- The Council of Federal Home Loan Banks, the public voice of the Federal Home Loan Bank System (FHLBank System), today applauded the findings of a recently published report from the Government Accountability Office (GAO) on the actions of the FHLBanks during the spring 2023 bank failures that disrupted financial markets.

Key Points: 
  • WASHINGTON, April 08, 2024 (GLOBE NEWSWIRE) -- The Council of Federal Home Loan Banks, the public voice of the Federal Home Loan Bank System (FHLBank System), today applauded the findings of a recently published report from the Government Accountability Office (GAO) on the actions of the FHLBanks during the spring 2023 bank failures that disrupted financial markets.
  • Additional highlights from the GAO report include:
    Federal financial regulators did not identify FHLBank advances as a factor of concern in any of the three banks’ safety and soundness.
  • Starting on March 9, 2023, the FHLBanks and the Federal Reserve Banks of New York and San Francisco made several efforts, in accordance with their policies and procedures, to help the failing banks pledge collateral to obtain liquidity from the Federal Reserve Banks.
  • It is also worth noting that the GAO report affirms that advances provided to the failed banks had a very limited, if any, direct impact on the Deposit Insurance Fund.”

Boomers in Pittsburgh are least likely to be locked-in by mortgage rates, among major metros

Retrieved on: 
Montag, April 8, 2024
Federal Housing Finance Agency, Research, Zillow, Infant, Sale, Gen, Generation Z, Real estate

SEATTLE, April 8, 2024 /PRNewswire/ -- New research from Zillow® shows older homeowners and those in less expensive metros are the least likely to be discouraged from moving by today's higher mortgage rates – with Boomer homeowners in Pittsburgh leading the way. About 10.8 million current homeowners nationwide, or 13%, should be immune to the effects of high interest rates. Markets with more homeowners free from rate lock have seen more homes listed for sale, giving buyers more choices during a prolonged shortage of inventory.  

Key Points: 
  • Gen Z, whose members generally have less equity in their homes, will likely stay put for a while.
  • SEATTLE, April 8, 2024 /PRNewswire/ -- New research from Zillow® shows older homeowners and those in less expensive metros are the least likely to be discouraged from moving by today's higher mortgage rates – with Boomer homeowners in Pittsburgh leading the way.
  • About 10.8 million current homeowners nationwide, or 13%, should be immune to the effects of high interest rates.
  • "The so-called mortgage rate lock-in effect has seriously curtailed both home sales and inventory over the past two years.

Doma Reports Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Dienstag, März 12, 2024
Technology, Insurance, Construction & Property, Finance, Fintech, Professional Services, Software, Artificial Intelligence, Residential Building & Real Estate, FHFA, Environment, Partnership, Risk, Policy, Table, DOMA, Bank statement, Housing, Depreciation, GAAP, Federal Housing Finance Agency, AOL

Doma Holdings, Inc. (NYSE: DOMA) (“Doma” or the “Company”), a leading force for disruptive change in the real estate industry, today reported financial results and key operating data for the three months and twelve months ended December 31, 2023.

Key Points: 
  • Doma Holdings, Inc. (NYSE: DOMA) (“Doma” or the “Company”), a leading force for disruptive change in the real estate industry, today reported financial results and key operating data for the three months and twelve months ended December 31, 2023.
  • Local and associated operations are classified as “discontinued operations” and segregated in the Company’s financial results beginning in the third quarter ended September 30, 2023.
  • The financial results and key operating data highlighted today reflect the continuing operations of Doma, excluding the discontinued Local and associated operations.
  • Doma will host a conference call at 5:00 PM Eastern Time today on Tuesday, March 12, to present its fourth quarter and full year 2023 financial results.

NEW YORK COMMUNITY BANCORP, INC. ANNOUNCES OVER $1 BILLION EQUITY INVESTMENT ANCHORED BY FORMER U.S. TREASURY SECRETARY STEVEN MNUCHIN'S LIBERTY STRATEGIC CAPITAL, HUDSON BAY AND REVERENCE CAPITAL

Retrieved on: 
Mittwoch, März 6, 2024
Well, Citadel, Slate, OneWest Bank, Jefferies Group, New York Community Bank, Citadel Securities, Currency, Bank, Growth, Senior management, Federal Housing Finance Agency, NYCB, Documentation, Liberty, Comptroller, Sullivan & Cromwell, Treasury, Oliver Cromwell, National bank

HICKSVILLE, N.Y., March 6, 2024 /PRNewswire/ -- New York Community Bancorp, Inc. (NYSE: NYCB) ("NYCB" or the "Company") today announced that Liberty Strategic Capital ("Liberty"), Hudson Bay Capital ("Hudson Bay"), Reverence Capital Partners ("Reverence Capital"), Citadel Securities ("Citadel"), other institutional investors and certain members of the Company's management (collectively, the "Investors") will make a combined over $1 billion investment in the Company, subject to finalization of definitive documentation and receipt of applicable regulatory approvals. Liberty is expected to invest $450 million, Hudson Bay will invest $250 million, and Reverence will invest $200 million as part of the transaction.  

Key Points: 
  • Liberty is expected to invest $450 million, Hudson Bay will invest $250 million, and Reverence will invest $200 million as part of the transaction.
  • Secretary Steven Mnuchin stated, "In evaluating this investment, we were mindful of the Bank's credit risk profile.
  • We enter this next chapter with a strong balance sheet and liquidity position supported by a diversified and retail focused deposit base.
  • Sullivan & Cromwell LLP is serving as legal counsel to Liberty Strategic Capital.

FTC Staff Provides Annual Letter to CFPB On 2023 Equal Credit Opportunity Act Activities

Retrieved on: 
Freitag, Februar 16, 2024
Social media, FTC, Bureau, Equal Employment Opportunity Commission, Education, News, Housing, Consumer protection, HUD, Federal Housing Finance Agency, Blog, DOJ, Policy, Justice minister, Federal Trade Commission, Alaska Natives, Consumer, Commission, American Indians, Research, Left–right political spectrum

The staff of the Federal Trade Commission has provided the Consumer Financial Protection Bureau (CFPB) an annual summary of its enforcement and related activities on the Equal Credit Opportunity Act (ECOA).

Key Points: 
  • The staff of the Federal Trade Commission has provided the Consumer Financial Protection Bureau (CFPB) an annual summary of its enforcement and related activities on the Equal Credit Opportunity Act (ECOA).
  • The FTC is responsible for ECOA enforcement and education regarding most non-bank financial service providers.
  • The lead attorney on this matter for the FTC was Carole Reynolds in the Bureau of Consumer Protection.
  • Follow the FTC on social media, read consumer alerts and the business blog, and sign up to get the latest FTC news and alerts.

FTC Staff Provides Annual Letter to CFPB On 2023 Equal Credit Opportunity Act Activities

Retrieved on: 
Freitag, Februar 16, 2024
Social media, FTC, Bureau, Equal Employment Opportunity Commission, Education, News, Housing, Consumer protection, HUD, Federal Housing Finance Agency, Blog, DOJ, Policy, Justice minister, Federal Trade Commission, Alaska Natives, Consumer, Commission, American Indians, Research, Left–right political spectrum

The staff of the Federal Trade Commission has provided the Consumer Financial Protection Bureau (CFPB) an annual summary of its enforcement and related activities on the Equal Credit Opportunity Act (ECOA).

Key Points: 
  • The staff of the Federal Trade Commission has provided the Consumer Financial Protection Bureau (CFPB) an annual summary of its enforcement and related activities on the Equal Credit Opportunity Act (ECOA).
  • The FTC is responsible for ECOA enforcement and education regarding most non-bank financial service providers.
  • The lead attorney on this matter for the FTC was Carole Reynolds in the Bureau of Consumer Protection.
  • Follow the FTC on social media, read consumer alerts and the business blog, and sign up to get the latest FTC news and alerts.