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Elimination of FHA “Prepayment Penalty”

August 29, 2014: 

On August 26, 2014, the Federal Housing Administration (FHA) issued its final rule to eliminate post-payment interest charges on FHA-insured single family mortgages.

Guiding Principles for Reforming Freddie Mac and Fannie Mae

August 25, 2014: 

NAR President Steve Brown shares several guiding principles that will continue to ensure access to affordable mortgage credit from these two housing finance companies.

August Recess Isn't Slowing Down NAR

August 25, 2014: 

Congress has adjourned for the rest of the summer, but that isn’t stopping REALTORS® from staying in touch with our representatives.

FHFA Releases GSE Strategic Plan

August 22, 2014: 

On August 15, 2014,The Federal Housing Finance Agency (FHFA) released a Request for Input on its Strategic Plan for 2015-2019

FEMA Redesigns Map Service Center

August 22, 2014: 

FEMA has announced a redesign of their Map Service Center (MSC).

NAR Comments on Housing Finance Reform

August 15, 2014: 

On Aug. 8, 2014, NAR President Steve Brown provided comments to the U.S. Department of Treasury in response to a request for Public Input on Development of Responsible Private Label Securities (PLS) Market.

CFPB issues $19.3 million Fine

August 15, 2014: 

On Aug. 12, 2014, the Consumer Financial Protection Bureau (CFPB) announced a consent agreement and $19.3 million in fines under the Real Estate Settlement Procedures Act (RESPA) and other laws with Amerisave Mortgage Corporation, its affiliate, Novo Appraisal Management Company, and the owner of both companies, Patrick Markert.

Fannie Modifies Post Short Sale Qualifications

August 15, 2014: 

On July 29, 2014, Fannie Mae announced changes to its waiting period policy following a preforeclosure sale (short sale) or deed-in-lieu of foreclosure (DIL).

FHFA Seeks Input on Single Security for Fannie, Freddie

August 15, 2014: 

On Aug. 12, 2014, the Federal Housing Finance Agency (FHFA), the regulator of Fannie Mae and Freddie Mac, published a proposed framework for how the two mortgage-finance companies might issue and back a single-type of mortgage-backed security (MBS).

FHA Short Sales Update

August 14, 2014: 

Last month, the US Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2014-15 allowing dual agency agreements in FHA short sales.

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