Posted To: MND NewsWire

Mark Calabria, director of the Federal Housing Finance Agency (FHFA) used the annual convention and expo of the Mortgage Bankers Association to announce changes in the agency’s requirements for certain operations of the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. FHFA is seeking comments on a proposed rule requiring the GSEs to provide advance notice to FHFA of new activities and to obtain prior approval before they launch any new products. The rule establishes revised criteria for determining if such notice is required and determining if an activity is a new product that merits public notice and comment. In a press release that accompanied Calabria’s announcement at the virtual MBA event, the agency said it is obligated to ensure Fannie and Freddie stay focused on their…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: Mortgage News Daily