Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
FHFA seeks improved GSE funding for underserved communities
WASHINGTON (6/2/10)--The Federal Housing Finance Agency (FHFA) has published for public comment a proposed rule that would require government-sponsored entities (GSEs) Fannie Mae and Freddie Mac to “serve very low-, low- and moderate-income families” in the “manufactured housing, affordable housing preservation, and rural markets.” The FHFA proposal would require Fannie and Freddie to “take actions to increase the liquidity of mortgage investments and improve the distribution of investment capital available for mortgage financing for underserved markets while adhering to the requirements of conservatorship.” Fannie Mae and Freddie Mac were placed into conservatorship in 2008 in a bid to reduce the uncertainty in the financial markets regarding GSE bonds and mortgage-backed securities. The GSEs would be “required to provide an underserved markets plan” on which those entities would be assessed. The FHFA proposal would create a method for evaluating the GSE’s performance in underserved markets. According to the release, the FHFA would evaluate the GSEs use of new loan products and underwriting guidelines and would judge the extent of their “outreach to qualified loan sellers.” The FHFA would also evaluate the volume of loans purchased by the GSEs and the “amount of investments and grants in projects that assist in meeting the needs of the underserved markets.” For the full FHFA release, use the resource link.
Other Resources

RSS print
News Now LiveWire
Need an #ICUDay focus? Try fundraising for charities, says @WOCCU #NewsNow http://t.co/M1OUjImOIu
21 minutes ago
#NewsNow: NJ-based money services business fined for repeated #BSA violations. http://t.co/6or7wDbomL
58 minutes ago
#NewsNow: Wal-Mart to issue EMV MasterCards within next few weeks. http://t.co/9csqwhFEdB
1 hours ago
#UMich consumer confidence index bounces back in August http://t.co/LJ1l7mk4Ty
1 hours ago
IPSOS survey: Canada's #creditunions top for member service 10th consecutive year @CanadianCentral http://t.co/dSipMd4qnz
2 hours ago