Repurchases Fair Housing Finance Agency

News & Analysis as of

GSEs Release Revised Framework for Origination Defects and Remedies — The Proof Will Be in the Execution

By recently releasing yet another revised representation and warranty framework, Fannie Mae and Freddie Mac continued their efforts to assuage the concerns of the lending industry that a default by a borrower poses an unfair...more

Fannie Mae and Freddie Mac Issue Guidelines for Mortgage Repurchases

On October 7, under the direction of the FHFA, Fannie Mae and Freddie Mac jointly issued new guidelines clarifying how the GSEs will categorize origination defects, how lenders can correct the defects, and allows for various...more

Orrick's Financial Industry Week in Review - August 18, 2014

FHFA Seeks Input on Single Security Structure for Fannie Mae and Freddie Mac - On August 12, FHFA published a Request for Input on the proposed structure for a Single Security that would be issued and guaranteed by...more

Orrick's Financial Industry Week in Review - April 14, 2014

Agencies Apply Increased Leverage Ratio to Large U.S. Banks - On April 8, the Fed, FDIC and OCC adopted the final rule to increase the leverage ratio for the largest U.S. banks. The final rule applies to U.S. bank...more

FHFA OIG Recommends Increased Oversight Of Repurchase Late Fees

On February 12, the FHFA Office of Inspector General (OIG) issued a report on the FHFA’s oversight of Fannie Mae’s and Freddie Mac’s handling of aged repurchase demands. The OIG found that (i) the FHFA’s published guidance...more

Fannie Mae Obtains Comprehensive Settlement Of Repurchase Claims Against Major Lender

On January 7, Fannie Mae and a national bank announced a comprehensive settlement to resolve all outstanding and future repurchase requests on nearly all single-family loans originated by the bank (and other lenders it later...more

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