News & Analysis as of

Mortgages Freddie Mac

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -

Federal Housing Finance Agency Proposes GSE Goals

by Ballard Spahr LLP on

The Federal Housing Finance Agency (“FHFA”) has proposed new single-family and multifamily housing goals for Fannie Mae and Freddie Mac (collectively, the “GSEs”) for 2018-2020....more

Nevada HOA Super-Priority Litigation Update: Nevada Supreme Court Rules in Favor of Lenders on Standing Issue

The Government-Sponsored Enterprises (GSEs) and their servicers scored a significant victory last week in the Nevada Supreme Court. In Nationstar Mortgage, LLC v. SFR Investments Pool 1, LLC (Case No. 69400), the court held...more

Treasury report on U.S. financial system recommends extensive mortgage lending reforms

by Ballard Spahr LLP on

The U.S. Treasury Department recently issued a report titled “A Financial System That Creates Economic Opportunities-Banks and Credit Unions.”  In addition to recommended changes for the CFPB, the report devotes substantial...more

West Coast Real Estate Update - May 2017 - #3

by Holland & Knight LLP on

L.A. to Legalize Residential Units Previously Created in Violation of Building Code - On May 10, 2017, the Los Angeles City Council unanimously approved an ordinance that would permit previously unapproved dwelling...more

New Wave of Lehman Litigation Appears to Be Imminent

by Bilzin Sumberg on

Thousands of mortgage lenders across the country either recently received, or will soon be receiving, this document from Lehman Brothers Holdings, Inc. (LBHI). It is a notice of a motion to approve a proposed settlement of...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Changes Proposed to CAS and STACR Programs - On May 8, 2017, Fannie Mae and Freddie Mac announced that they are considering certain changes to the structure of their CAS and STACR...more

Changes Proposed to CAS and STACR Programs

On May 8, 2017, Fannie Mae and Freddie Mac announced that they are considering certain changes to the structure of their CAS and STACR note programs in order to widen the investor base for the notes through which they...more

Window on Washington - This Week in the Nation's Capital - April 28, 2017 Vol. 1, Issue 6

by Clark Hill PLC on

Budget Release: Congressional staff is suggesting that the President’s full 2018 budget should be released on May 22nd. Continuing Resolution: The House gave lawmakers one more week to agree on a spending bill to fund...more

Blog: CFPB Proposes Changes To Its Fair Lending Rule

by Cooley LLP on

Mortgage lenders should be aware of upcoming changes to the Consumer Financial Protection Bureau’s (CFPB) Regulation B. The CFPB has been in the process of changing existing rules to allow for compliance with recent changes...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Federal Reserve Board Announces Finalized Rule Adjusting the Board's Maximum Civil Money Penalties - On January 18, 2017, the Federal Reserve Board announced that it was adjusting...more

FHFA Issues Final Rule on Fannie Mae and Freddie Mac Duty to Serve Underserved Markets

On December 13, 2016, the Federal Housing Finance Agency (FHFA) issued a final rule implementing the Duty to Serve provisions mandated by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended...more

FHFA Final Rule on Duty to Serve Allows GSEs to Receive Credit for Manufactured Housing Chattel Loans

The Housing and Economic Recovery Act of 2008 (HERA) amended the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 by, among other things, establishing the Federal Housing Finance Agency (FHFA). FHFA...more

Commercial Mortgage Loans and CMBS: Developments in the European Market – Chapter 1

by K&L Gates LLP on

Commercial real estate (CRE) is a tremendously important asset, as the content of this book will discuss. However, the CRE lending and commercial mortgage-backed securities (CMBS) markets are, at the time of writing, largely...more

FHFA Announces Increases in Maximum Conforming Loan Limits for Fannie Mae and Freddie Mac for First Time in 10 Years

by Ballard Spahr LLP on

The Federal Housing Finance Agency (FHFA) has announced that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2017 will increase to $424,100 from $417,000. While the increase is...more

Orrick's Financial Industry Week In Review

FHFA Announces Increase in Maximum Conforming Loan Limits for Fannie Mae and Freddie Mac in 2017 - On November 23, 2016, the Federal Housing Finance Agency (FHFA) announced an increase in the maximum conforming loan...more

California Amends RMLA: Federal Agency Approval Not Required For Processing and Underwriting Companies

by Ballard Spahr LLP on

Effective January 1, 2017, the definition of lender under the California Residential Mortgage Lending Act (RMLA) will be amended to include third-party processors and/or underwriters who do not solicit loan applicants,...more

FHFA Announces Increase in Maximum Conforming Loan Limits for Fannie Mae and Freddie Mac in 2017

On November 23, 2016, the Federal Housing Finance Agency (FHFA) announced an increase in the maximum conforming loan limits for mortgages acquired by Freddie Mac and Fannie Mae. The maximum loan limit for one-unit properties...more

Ninth Circuit Holds that Fannie Mae and Freddie Mac Are Not Agents of the Government Under the False Claims Act

by Ropes & Gray LLP on

In United States ex rel. Adams v. Aurora Loan Servs., 813 F.3d 1259 (9th Cir. 2016), the Ninth Circuit affirmed the district court’s dismissal of Relators False Claims Act (“FCA”) complaint, holding that the Federal National...more

Orrick's Financial Industry Week in Review

Financial Industry Developments - FHFA Further Adjusts Multifamily Lending Caps for Fannie Mae and Freddie Mac - On August 18, 2016, the Federal Housing Finance Agency ("FHFA") announced an additional increase...more

Fannie Mae and Freddie Mac Publish Redesigned Uniform Residential Loan Application Form and Dataset

by Ballard Spahr LLP on

Fannie Mae and Freddie Mac have announced that they have published redesigned versions of their Uniform Residential Loan Application Form (URLA), the first substantial revision to the form in more than 20 years. The update to...more

FHFA Further Adjusts Multifamily Lending Caps for Fannie Mae and Freddie Mac

On August 18, 2016, the Federal Housing Finance Agency (“FHFA”) announced an additional increase to the 2016 multifamily lending caps for both Fannie Mae and Freddie Mac. ...more

Financial Services Weekly News - August 2016 #4

by Goodwin on

Editor's Note - Friend the Fed! As is the case every August, our federal government and regulators are hard at work, laser focused on the important issues of the day. In this regard, on August 18, the Federal Reserve...more

New Law Affects FHA Requirements for Condominium Financing

by Ballard Spahr LLP on

President Obama signed the Housing Opportunity Through Modernization Act (H.R. 3700) into law on July 29. Title III of the Act will significantly modify Federal Housing Administration (FHA) condominium mortgage insurance...more

Bank of America Wins Reversal of FIRREA $1.27B Penalty

A breach of contract is insufficient to also support a claim for fraud, the Second Circuit Court of Appeals has ruled, reversing a $1.2 billion verdict against Countrywide Home Loans in the process. What happened...more

Reversal of Countrywide Fraud Verdict a Reminder of Government’s Heavy Burden of Proof

by BakerHostetler on

On May 23, 2016, the U.S. Court of Appeals for the Second Circuit reversed a jury’s finding of civil fraud against Countrywide Home Loans and other lenders, finding that the government had failed to prove fraud in...more

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