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Federal Housing Finance Agency (FHFA)

GSEs to Require Mortgage Servicers to Obtain and Maintain Fair Lending Data

August 16, 2022 By Nanci Weissgold, Anoush Garakani and Melissa Malpass

A&B Abstract: On August 10, 2022, the Federal Housing Finance Agency (“FHFA”) announced that Fannie Mae and Freddie Mac (the “GSEs”) will require mortgage servicers to obtain and maintain fair lending data on their loans, beginning March 1, 2023. That same day, Fannie Mae and Freddie Mac (the “GSEs”) each issued guidance implementing the FHFA […]

Filed Under: Federal Housing Finance Agency (FHFA), Mortgage Servicing Tagged With: #mortgageservicing, Fair Lending, Mortgage Servicing, Servicing

Connecticut and Maryland Adopt Model Mortgage Servicer Prudential Standards

August 1, 2022 By Nanci Weissgold, Anoush Garakani and Josh Dhyani

A&B Abstract: On May 24, 2022, Connecticut enacted legislation that, among other things, adds financial condition and corporate governance requirements for certain licensed mortgage servicers (the “CT Standards”). In similar fashion, the Maryland Commissioner of Financial Regulation (the “Commissioner”) issued a notice of final action on March 25, 2022 adopting similar standards by regulation (the […]

Filed Under: Federal Housing Finance Agency (FHFA), Mortgage Servicing, State Law Tagged With: #GSEs, #mortgageservicing, CSBS, Mortgage Servicing, Servicing

Upcoming Webinar on Implications of Collins v. Yellen

June 28, 2021 By Consumer Finance Team

On Friday, July 2, Alston & Bird partner Jason Levine will participate in a Federalist Society webinar discussing the Supreme Court’s Collins v. Yellen ruling and its implications.  In Collins v. Yellen, issued on June 23, the Court held that: (1) because the Federal Housing Finance Agency did not exceed its authority under the Housing […]

Filed Under: Federal Housing Finance Agency (FHFA), Supreme Court Decisions Tagged With: #collinsvyellen

Biden-Harris Administration Announces Extension of COVID-19 Foreclosure Moratorium

June 24, 2021 By Nanci Weissgold and Anoush Garakani

A&B Abstract: Today, the Biden Administration announced an extension of the foreclosure moratorium for federally-backed mortgage loans (the “Presidential Announcement”). To implement the Presidential Announcement, the federal agencies (i.e., HUD/FHA, USDA, and VA) and GSEs (i.e., Fannie Mae and Freddie Mac) have announced (or are anticipated to announce) extensions of the foreclosure moratorium until July […]

Filed Under: CARES Act, Consumer Loan, COVID-19, Department of Housing and Urban Development (HUD), Federal Housing Finance Agency (FHFA), Forbearance, HUD, Mortgage Loans, Mortgage Servicing Tagged With: #GSEs, Covid-19, Forbearance, Foreclosure, HUD, Mortgage Servicing, Servicing

The QM Patch Is Down for the Count

June 9, 2021 By Stephen Ornstein

Whether they realize it or not, absent a last-minute intervention from the Federal Housing Finance Agency (FHFA), effective July 1, 2021, creditors will no longer be able to originate qualified mortgage loans using the “QM Patch.” The reason for this dramatic event is that on April 8, 2021, Fannie Mae and Freddie Mac announced in separate […]

Filed Under: Ability to Repay/Qualified Mortgage, Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA) Tagged With: #QMPatch, QM

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