Today, the Federal Housing Finance Agency (FHFA) proposed 2022-2024 single-family and multifamily housing goals for the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. In addition to proposing higher annual benchmarks in some categories, the agency proposes new single-family subgoals focused on communities of color and that respond to concerns about displacement in low-income communities.
This is a bold and promising move to align and combine forces at agencies that should work together to end housing and lending discrimination and, importantly, to ensure their policies expand access to affordable homeownership for more borrowers and communities of color.
This is a pivotal moment for Fannie Mae and Freddie Mac, for the mission in their charters, and the role they can and must play in facilitating access to affordable housing and affordable mortgage credit for low- and moderate-income (LMI) households, for families and communities of color and rural communities.
The Federal Housing Finance Agency (FHFA) yesterday approved new refinance options for low-income borrowers, allowing Fannie Mae and Freddie Mac (government sponsored enterprises, or GSEs) to offer new loan products that will bring lower interest rates and lower monthly payments within reach for more lower-income households.
On Wednesday, the Federal Housing Finance Agency (FHFA) released a final Capital rule for the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The rule requires the GSEs to maintain tier 1 capital in excess of 4%.
This week, 19 national community organizations called on the Federal Housing Finance Agency (FHFA) to provide more clarity and transparency around the impacts of the agency’s proposed capital requirements for Fannie Mae and Freddie Mac (the Enterprises) before the end of a public comment period on August 31st.
August 10, 2020 The Honorable Mark Calabria Director Federal Housing Finance Agency 400 7th Street, SW Washington, D.C. 20219 Hugh Frater CEO Fannie Mae Midtown Center 1100 15th Street, NW Washington, DC 20005 David Brickman CEO Freddie Mac 1551 Park Run Drive Mclean, VA 22102 Dear Director Calabria, Executives Frater and Brickman: We are writing …
Today, the Federal Housing Finance Agency (FHFA) published a proposed rulemaking that creates a new regulatory capital framework for Fannie Mae and Freddie Mac, known together as the government-sponsored enterprises (GSEs).
This month, the Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) announced the new Borrower Protection Program that streamlines consumer protection oversight of mortgage servicers through new data and information sharing between the program sponsors as they respond to the coronavirus pandemic.
“Today, we saw Congress and President Trump take important steps to protect Americans against both health and economic repercussions of COVID-19….this is a great first step, but there will need to be others,” said Jesse Van Tol, CEO of NCRC.
A coalition of housing, consumer protection and community development organizations yesterday called on the Trump administration to not undermine policies that help low- and moderate-income (LMI) people buy homes, and avoid changes that would make home-buying harder for millions.
Yesterday, the U.S. Senate confirmed Mark Calabria as the new director of the Federal Housing Finance Agency (FHFA). Jesse Van Tol, CEO of the National Community Reinvestment Coalition (www.ncrc.org), made the following statement: “I want to congratulate Mark Calabria on his confirmation. We have worked with him over the years. “There have been numerous announcements …
Letter to Congressional Leaders on FY2017 Appropriations Request Letter to FHFA on Duty to Serve Evaluation Guidance(Download PDF)
Today, in reaction to the release of the Federal Housing Finance Agency’s (FHFA) final Duty to Serve rule, NCRC President and CEO John Taylor made the following statement: “The Duty to Serve framework that the FHFA has outlined is an important complement to the affordable housing goals in reaching the three underserved markets it targets …
Washington, DC – Today, the National Community Reinvestment Coalition applauded a letter from 32 Members of Congress to FHFA Director Mel Watt, and Treasury Secretary Jack Lew, urging them to ensure that Fannie Mae and Freddie Mac are adequately capitalized. NCRC members first introduced and urged Members of Congress to sign on to this letter at …