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Mortgages › Freddie Mac › GSE

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 -
Ballard Spahr LLP

Federal Agencies Propose Automated Valuation Model Quality Control Rule

Ballard Spahr LLP on

Pursuant to section 1473(q) of the Dodd-Frank Act, a group of federal agencies have proposed a quality control rule for automated valuation models (AVMs). The agencies are the Comptroller of the Currency, Consumer Financial...more

Brownstein Hyatt Farber Schreck

FHFA Commits to Flexible Timeline for Transitioning Credit Score Model Validation

Brownstein Hyatt Farber Schreck on

Stemming from the Federal Housing Finance Agency’s (FHFA) 2019 validation and approval of credit score models final rule, the FHFA announced in October 2022 that Fannie Mae and Freddie Mac, the government-sponsored...more

Orrick, Herrington & Sutcliffe LLP

FHFA requests feedback on single-family pricing framework

Orrick, Herrington & Sutcliffe LLP on

Recently, the FHFA issued a request for input (RFI) on a single-family pricing framework for Fannie Mae and Freddie Mac (GSEs), including feedback on policy priorities and goals that FHFA should pursue in its oversight of the...more

Orrick, Herrington & Sutcliffe LLP

FHFA outlines MSR guidance for managing counterparty credit risk

Orrick, Herrington & Sutcliffe LLP on

On January 12, FHFA released an advisory bulletin communicating supervisory expectations for Fannie Mae and Freddie Mac (the Enterprises) related to the valuation of mortgage servicing rights (MSRs) for managing counterparty...more

Orrick, Herrington & Sutcliffe LLP

Fannie, Freddie announce LIBOR transition plans

Orrick, Herrington & Sutcliffe LLP on

On December 22, GSEs Fannie Mae and Freddie Mac announced replacement indices based on the Secured Overnight Financing Rate (SOFR) for their legacy LIBOR indexed loans and securities ...more

Perkins Coie

Certain Foreclosure Moratoria Set to Lift on July 31

Perkins Coie on

At the close of this month, certain moratoria on foreclosures and evictions are set to lift. While prior deadlines have been extended, it remains to be seen whether another continuance will be granted amidst an increase in...more

Cozen O'Connor

Fannie Mae and Freddie Mac Update all Uniform Legal Instruments

Cozen O'Connor on

On July 7, 2021, Fannie Mae and Freddie Mac (the GSEs) introduced new uniform instruments (notes, security instruments, and riders) for use with loans to make them eligible for purchase by the GSEs. ...more

Troutman Pepper

CFPB Issues Rule Delaying the Mandatory Compliance Date of the New General Qualified Mortgage Final Rule

Troutman Pepper on

On April 27, the Bureau of Consumer Financial Protection (CFPB) issued a final rule to delay the mandatory compliance date for the General QM Final Rule until October 1, 2022. The CFPB stated that it issued the rule “to help...more

Buchalter

CFPB Extends Compliance Deadline for New Qualified Mortgage Definition to October 1, 2022

Buchalter on

On April 27, the CFPB published a final rule extending the date for mandatory compliance with the new “general” Qualified Mortgage (QM) rule (General QM Rule) until October 1, 2022. In December, 2020, the CFPB published the...more

Morgan Lewis - All Things FinReg

CFPB Proposes Delay of Mandatory Compliance Date for General Qualified Mortgage Rule

Morgan Lewis - All Things FinReg on

We previously reported on recent mortgage rulemakings that were finalized by the Consumer Financial Protection Bureau (CFPB or Bureau) late last year. Of the two final rules from the Bureau, one drastically simplifies the...more

Morgan Lewis - All Things FinReg

CFPB Provides Status Update Concerning Recently Finalized Qualified Mortgage Rules

Morgan Lewis - All Things FinReg on

We previously reported on recent mortgage rulemakings that were finalized by the Consumer Financial Protection Bureau (CFPB or Bureau) late last year. Of the two final rules from the Bureau, one drastically simplifies the...more

Morgan Lewis - All Things FinReg

New Administration, More Forbearance: Biden Administration Announces Extension of COVID-19 Forbearance and Foreclosure Protections...

Morgan Lewis - All Things FinReg on

As part of President Joe Biden’s efforts to address the continuing impact of the COVID-19 pandemic on American families, on February 16, the US Department of Housing and Urban Development, US Department of Veterans Affairs,...more

Dechert LLP

CFPB Issues Two Final Rules: A Change to the General Qualified Mortgage Rule and the Seasoned Qualified Mortgage Rule

Dechert LLP on

The Consumer Financial Protection Bureau (“CFPB”) recently issued two final rules aimed at bolstering the Qualified Mortgage (“QMs”) market. The first final rule amends the general eligibility category of QMs (“General QMs”)...more

Mayer Brown

CFPB Issues New QM Definition and Seasoning Provisions

Mayer Brown on

The Consumer Financial Protection Bureau (“CFPB”) issued two relatively welcome surprises yesterday. First, along with ditching a debt-to-income ratio (“DTI”) ceiling, the agency expanded its proposed general Qualified...more

Bradley Arant Boult Cummings LLP

GSE Deferral Programs Continue to Pose Risk for Mortgage Servicers

Bradley Arant Boult Cummings LLP on

In mid May 2020, we highlighted that the Fannie Mae and Freddie Mac (GSEs) COVID-19 payment deferral programs put mortgage servicers at risk of violating some of the Consumer Financial Protection Bureau’s (CFPB) Mortgage...more

Morgan Lewis - All Things FinReg

CFPB Issues Final Rule Extending the Qualified Mortgage ‘GSE Patch’

Morgan Lewis - All Things FinReg on

The Consumer Financial Protection Bureau (CFPB or Bureau) on October 20 issued a final rule to extend the government-sponsored enterprises patch (GSE Patch), i.e., the “temporary qualified mortgage” exemption within the...more

Morgan Lewis - All Things FinReg

Second Update: FHFA Announces Latest Extension of Moratorium on Foreclosures and Evictions

Morgan Lewis - All Things FinReg on

The Federal Housing Finance Agency (FHFA) announced on August 27 that Fannie Mae and Freddie Mac (the GSEs) will extend their moratorium on foreclosures and evictions until at least December 31, 2020. The foreclosure...more

Morgan Lewis

CFPB Proposes Substantial Amendments to Qualified Mortgage Definition, Addresses GSE Patch

Morgan Lewis on

The Consumer Financial Protection Bureau on June 22 issued two proposed rules with significant implications for the mortgage marketplace....more

Ballard Spahr LLP

CFPB Proposes Temporary Extension of the GSE Patch and Revised Approach to the General Qualified Mortgage

Ballard Spahr LLP on

The CFPB recently proposed a temporary extension of the qualified mortgage (QM) that is based on a loan being eligible for sale to Fannie Mae or Freddie Mac (often referred to as the “GSE Patch”). ...more

Mayer Brown

Federal Housing Agencies and GSEs Announce Updates to COVID-19 Relief Measures for Mortgage Loan Borrowers

Mayer Brown on

In recent weeks, the US federal housing agencies and government-sponsored enterprises (GSEs) that insure, guarantee, or purchase “federally backed mortgage loans” covered by Section 4022 of the CARES Act (Act) have continued...more

Mayer Brown

CFPB Hatches a QM Proposal for GSE Patch

Mayer Brown on

As rumored, the Consumer Financial Protection Bureau (“CFPB”) is proposing to revise its general qualified mortgage definition by adopting a loan pricing test. Specifically, under the proposal, a residential mortgage loan...more

Morgan Lewis - All Things FinReg

Update: FHFA Announces Further Extension on Moratorium on Foreclosures and Evictions

Morgan Lewis - All Things FinReg on

The Federal Housing Finance Agency (FHFA) announced on June 17 that Fannie Mae and Freddie Mac (the GSEs) are once again extending their moratorium on foreclosures and evictions until at least August 31, 2020. ...more

Ballard Spahr LLP

Fannie Mae and Freddie Mac Update Selling FAQs to Address Loans in a COVID-19 Forbearance

Ballard Spahr LLP on

On June 11, 2020, Fannie Mae and Freddie Mac updated their selling FAQs to address the sale of loans in a forbearance because of a COVID-19 financial hardship. ...more

Ballard Spahr LLP

Fannie Mae and Freddie Mac Extend COVID-19 Origination Guidance

Ballard Spahr LLP on

On June 10, 2020, Fannie Mae in updates to Lender Letters 2020-03, 2020-04, and 2020-06 and Freddie Mac in Bulletin 2020-23 extend temporary COVID-19 origination guidance....more

Ballard Spahr LLP

Fannie Mae and Freddie Mac Update COVID-19 Servicing Guidance

Ballard Spahr LLP on

On June 10, 2020 Fannie Mae in Lender Letter 2020-09 and Freddie Mac in Bulletin 2020-21 announced the servicer incentive for their previously announced COVID-19 payment deferral, and temporary updates to other servicer...more

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