Freddie Mac, Mortgages | JD Supra Law News

Freddie Mac Introduces Low Activity Fee, Updates Numerous Seller/Servicer Requirements

by BuckleySandler LLP on 5/21/2013

On May 15, Freddie Mac issued Bulletin Number 2013-8, which includes numerous revisions to requirements for sellers and servicers. ...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - May 17, 2013

by BuckleySandler LLP on 5/20/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY - Excerpt from...more

Fannie Mae, Freddie Mac Directed To Purchase Only QM Loans

by BuckleySandler LLP on 5/14/2013

On May 6, the FHFA announced that Fannie Mae and Freddie Mac must limit their future mortgage acquisitions to loans that meet the requirements for qualified mortgages under the CFPB’s January 2013 ability-to-repay/qualified...more

Where There’s Smoke, There’s FIRREA

by Melissa J. Anderson, Lori Lynn Phillips, Frank Scaduto | Orrick - Securities Litigation and Regulatory... on 5/14/2013

Few can ignite a legal firestorm like U.S. District Judge Jed Rakoff of the Southern District of New York. Last week, in a mortgage fraud suit against Bank of America and Countrywide, Judge Rakoff refused to dismiss a novel...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - May 10, 2013

by BuckleySandler LLP on 5/13/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY -...more

Freddie Mac Announces Numerous Servicing Policy Updates

by BuckleySandler LLP on 4/26/2013

On April 15, Freddie Mac issued Bulletin Number 2013-6, which announces numerous revisions to servicing requirements. The bulletin updates the allowable amounts for attorney fees for default-related legal services and details...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 19, 2013

by BuckleySandler LLP on 4/22/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - Excerpt from Consumer...more

FHFA Announces Streamlined Modification Initiative

by BuckleySandler LLP on 4/2/2013

On March 27, the FHFA announced that Fannie Mae and Freddie Mac will begin a new loan modification initiative on July 1, 2013. As described in more detail in Fannie Mae Servicing Guide Announcement SVC-2013-05 and Freddie Mac...more

Fannie Mae And Freddie Mac Stress Importance Of Lender Data Accuracy

by BuckleySandler LLP on 4/2/2013

On March 26, Fannie Mae and Freddie Mac reminded lenders of the importance of data accuracy to improve the overall quality of loan delivery data submitted to each entity and ensure that it is complete and fully reflective of...more

Freddie Mac Releases Additional Loan-Level Data

by BuckleySandler LLP on 4/1/2013

On March 21, Freddie Mac released historical loan-level credit performance data on a portion of the fully amortizing 30-year, fixed-rate single-family mortgages it purchased during the past 13 years. The data-set is comprised...more

House, Senate Committees Hold Separate Hearings On Housing Finance Reform

by BuckleySandler LLP on 3/28/2013

On March 19, the Senate Banking Committee and the House Financial Services Committee each held a hearing to review issues related to housing finance post-federal conservatorship of Fannie Mae and Freddie Mac. The House...more

FHFA OIG Issues Report On Servicers’ Borrower Complaint Handling

by BuckleySandler LLP on 3/25/2013

Today, the FHFA Office of Inspector General (OIG) issued a report on servicers’ handling of borrower complaints, following an audit to assess FHFA’s oversight of Freddie Mac’s controls over servicers’ handling of escalated...more

FHFA Files $165 Million Suit Against HSBC and Decision One

by Orrick - Structured Finance Group on 3/20/2013

On March 8, the Federal Housing Finance Agency (FHFA), acting as conservator for the Federal Home Loan Mortgage Corporation (Freddie Mac) commenced litigation in the Supreme Court of the State of New York against Decision One...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - March 15, 2013

by BuckleySandler LLP on 3/16/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - E-COMMERCE - PRIVACY/DATA SECURITY - PAYMENTS - Excerpt...more

Orrick's Financial Industry Week in Review - March 11, 2013

by Orrick, Herrington & Sutcliffe LLP on 3/11/2013

In This Issue: *Financial Industry Developments - SEC Risk Alert and Investor Bulletin on Investment Adviser Custody Rule - FHFA Outlines 2013 Goals for Fannie and Freddie - Rating Agency Developments ...more

Bipartisan Committee Issues Report on Future of U.S. Housing - and Mortgage Bankers Issue Their Response: News Releases of the...

by Rosa Eckstein Schechter on 3/5/2013

Last week, a bipartisan commission of former Cabinet secretaries, ex-Senators, economists, and experts in various aspects of the American housing industry or market issued their report on how things are and how things should...more

Freddie Mac Issues Numerous Loss Mitigation Policy Updates

by BuckleySandler LLP on 2/27/2013

On February 15, Freddie Mac issued Bulletin 2013-3, which provides a series of updates and revisions to its loss mitigation policies. The Bulletin reminds servicers of their obligations with regard to various transfers of...more

House Democrats Urge President Obama To Nominate FHFA Director

by BuckleySandler LLP on 2/19/2013

On February 7, 45 Democratic Members of the House of Representatives sent a letter to President Obama requesting he nominate a permanent director for the FHFA to replace Acting Director Edward DeMarco. ...more

A Federal Court's Lifeline to the Servicing Industry: No Physical Pain, no Negligent Servicing Claim

by Stephen Pudner | Baker, Donelson, Bearman, Caldwell &... on 2/15/2013

Keith Andress, Natalie Bolling and Stephen Pudner of Baker Donelson's Birmingham office were recently successful in having a mortgagor's claims seeking punitive damages against a major mortgage servicing company dismissed...more

HUD, FHFA Extend Foreclosure Protections For Hurricane Sandy Victims

by BuckleySandler LLP on 2/7/2013

On January 31, HUD and the FHFA announced that the FHA, Fannie Mae, and Freddie Mac will extend for an additional 90 days protections against foreclosure actions for borrowers whose properties were damaged or destroyed due to...more

Federal Help to Get Residential Real Estate Market Back on Track: 2 New Programs to Resolve Mortgage Issues Debut for Freddie Mac,...

by Rosa Eckstein Schechter on 1/30/2013

The federal government, through the Federal Housing Finance Agency which oversees Freddie Mac and Fannie Mae, continues to find ways to resolve the Housing Crisis and news this week is that two new, big programs that are...more

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Freddie Mac › Mortgages