02.06.2014

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Fannie Mae and Freddie Mac have been in the news quite a bit over the last year, so it’s a good time to do a refresher on who they are and what role they play in the Thomasville real estate market. In 2008, due to mismanagement resulting in billions of dollars of losses, Fannie and Freddie were taken over by the government.
About ReneeI'm a broker associate & Luxury Collection Specialist with Berkshire Hathaway HomeServices California Properties in Corona del Mar and Newport Beach, CA. FacebookBlake GranthamI just saw on CNN, that vultures rarely kiss because they are so disgusted with each other's bad breath.
A new rule, introduced Tuesday, requires the Federal Housing Finance Agency (FHFA) by federal law to issue a regulation to implement the Duty to Serve requirements specified in the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act (HERA) of 2008 among both GSEs.
According to a press release from the FHFA, the proposed regulation will require the GSEs to serve three underserved markets including manufactured housing, affordable housing preservation, and rural markets. As part of the newly introduced rule, both GSEs will have Duty to Serve credit for all transactions that involve a secondary market for mortgages on residential properties in the specified underserved markets.
For the manufactured housing market, Duty to Serve credit would be provided for eligible Enterprise activities related to manufactured homes financed as real property and blanket loans for certain categories of manufactured housing communities.
For the affordable housing preservation market, Duty to Serve credit would be provided for eligible Enterprise activities related to preserving the affordability of housing for renters and homebuyers, including activities under the programs specified in the Safety and Soundness Act.
For the rural market, Duty to Serve credit would be provided for eligible Enterprise activities related to housing in rural areas, including activities serving the following high-needs rural regions and populations: Middle Appalachia, the Lower Mississippi Delta, colonias, members of a Native American tribe located in a Native American area, and migrant and seasonal agricultural workers. The FHFA also announced that they are now accepting comments on the rule for a period of 90 days.


There is trouble again for federal mortgage backers and bailout queens Fannie Mae and Freddie Mac, whose failures helped to trigger the housing market collapse and subsequent 2008 economic crisis. Michael has a Bachelor's Degree in mathematics and physics from Boston University and Master's Degree in physics from University of California, San Diego. They buy mortgages from lenders, so the lenders can use the money to issue new home mortgages.
If your mortgage is owned by Fannie Mae or Freddie Mac, you may be able to refinance your loan and take advantage of lower interest rates. Freddie, Fannie and the Federal Housing Administration together now guarantee about 90 percent of all new mortgages, far above their historic level. The House Republicans and the Obama administration agree that the pair should be done away with. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. In addition, the FHFA said that the rule would also create a method for gauging the GSEs' performance every year.
Duty to Serve credit would also be provided for activities related to existing small multifamily rental properties, energy efficiency improvements on existing multifamily rental and single-family first-lien properties, shared equity homeownership programs and the HUD's Choice Neighborhoods Initiative and Rental Assistance Demonstration program. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. If banks can’t count those agency securities toward the liquidity coverage rule than there is much less incentive to hold them and Fannie Mae financing costs will likely go up in the future.


Freddie Mac has fallen by roughly the same amount over the last two days, so concerns about the liquidity coverage ratio are the more likely culprit. If the regulatory landscape changes such that Fannie would leave conservatorship only to find itself at a marked competitive disadvantage, that bet might not be quite so enticing.
They were originally created to raise homeownership levels and increase the availability of affordable housing. This includes 15 year loans for park benches, cardboard boxes, and mobile dwellings better known as grocery store shopping carts.
She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University.
Prior to his career in journalism, Michael Worked in the Peace Corps teaching math and science in South Africa. Congress must agree on a plan, which could take years, and then the market’s dependence on the companies and the financial backing they provide must be reduced. It's some guy I have never met before, but I heard a lot of people say they are friends with Benny Fitz.



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