Fannie Mae and Freddie Mac are poised to step up efforts to collect unpaid mortgage debt from home owners who chose to go the route of strategic default.
New regulations enacted in the wake of the housing crisis are severely limiting access to home ownership, according to one member of the Bipartisan Policy Center's Housing Commission.
President Barack Obama signed a bipartisan measure early Thursday that averts a U.S. default. The default had sparked widespread concern about the detrimental effects it could have had on the real estate industry.
On Oct. 16, the House of Representatives passed a bill ending the shutdown of the federal government. The bill was passed by the Senate earlier in the day. President Obama has signed the bill into law.
Ginnie Mae President Ted Tozer sits down with NAR Vice President Joe Ventrone to explain why a continued federal role in the secondary market is key to a successful mortgage finance system in the U.S.
Sixty-six Members of the House of Representatives weighed in with FHFA Acting Director DeMarco urging him not to lower the Freddie Mac and Fannie Mae loan limits.
NAR, along with the Mortgage Bankers Association, the National Association of Home Builders, and others, urged the FHFA in a recent letter to regulators to delay its proposal to reduce the loan limits.
NAR testified today before the Senate Committee on Banking, Housing and Urban Affairs that defaulting on the nation's federal debt could be disastrous for the U.S. economy and catastrophic for the housing recovery.
13 Senators last week sent a letter to FHFA Acting Director DeMarco urging him not to lower the Freddie Mac and Fannie Mae loan limits.
Earlier this past summer, NAR President Gary Thomas appointed a Presidential Advisory Group (PAG) to investigate the impacts that federal legisation passed last year to reform the National Flood Insurance Program (NFIP) will have on the real estate industry and property owners.