The Federal Housing Finance Agency (FHFA) has recently proposed a new conservatorship and receivership operations framework for the government-sponsored enterprises, Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. Now, after a weighing in the proposal, the Mortgage Bankers Association (MBA) has raised some concerns.

MBA President and CEO John A. Courson and Chairman-Elect Michael D. Berman wrote a letter to FHFA General Counsel Alfred M. Pollard, Esq., stating MBA’s threefold concern about the framework: being overly theoretic, vagueness on the receivership triggers, and unclear receivership goals.
The Housing and Economic …

The Home Affordable Modification Program (HAMP) was launched by the Obama administration to help the housing market avoid further decline. Since its launch, though, it has left numerous homeowners angry and frustrated – in fact, so angry and frustrated were the homeowners that they are now starting to file lawsuits against mortgage servicers.
Anthony and April Soper is just one of the thousand homeowners that have filed a case against their servicer – in this case the nation’s largest bank, Bank of America. When the couple started experiencing financial trouble in …

Goals are very important, especially within an economy that seems to still be on the downhill.
The Housing and Economic Recovery Act of 2008 (HERA) requires the Federal Housing Finance Agency (FHFA) to establish the mortgage market goals for different target segments. The Freddie Mac and Fannie Mae conservator, therefore, has released its final housing goals for the government-sponsored enterprises. These new rules will apply for the year 2010 to 2011.
The recently established rules have three goals: one for single-family, owner-occupied home purchases; one for very low-income families; and another one …

Home prices continue to fall, according to a report by the Washington-based Federal Housing Finance Agency.
This year, home prices during the second quarter were 1.6% less than last year’s. The first quarter, on the other hand, saw a 3.2% decline in home prices. More foreclosed homes also join the ranks of those properties for sale.
Though prices are up by 0.9% vis-a-vis the first three months of the year, the increasing number of foreclosures is cutting into buyer confidence. Mortgage rates are also reaching its record low, further weakening demand.
In the …