Investor Update
June 25, 2016
In observance of the Independence Day holiday, please review a complete list of system and customer service hours of operation for Freddie Mac technologies.
Technology System Alerts
Only Freddie Mac customers who are subscribed to our Technology System Alerts emails will receive notification of holiday hours.
Source: Freddie Mac
Investor Update
June 27, 2016
MCLEAN, VA–(Marketwired – Jun 27, 2016) – Freddie Mac’s (OTCQB: FMCC) full menu of disaster relief policies is now available to homeowners whose homes or place of employment were damaged or destroyed by floods in West Virginia. Freddie Mac’s disaster relief policies are available to borrowers with homes in presidentially declared Major Disaster Areas where federal Individual Assistance programs are being made available to affected individuals and households. Freddie Mac is one of the nation’s largest investors in residential mortgages.
“If your West Virginia home, business or employer was harmed by the floods now is the time to call your mortgage servicer to discuss temporary mortgage relief. Freddie Mac’s disaster relief options include forbearance, in some cases for as long as year, for borrowers whose mortgages are owned or guaranteed by Freddie Mac,” said Yvette Gilmore, vice president of single-family servicer performance management, Freddie Mac.
Freddie Mac disaster relief policies authorize mortgage servicers to help affected borrowers in presidentially declared Major Disaster Areas where federal Individual Assistance programs have been extended. (Servicers and borrowers can find an updated list of these areas at http://www.fema.gov/disasters.)
Freddie Mac disaster relief policies include suspending foreclosures by providing forbearance for up to 12 months, waiving penalties or late fees against borrowers with disaster-damaged homes; and not reporting forbearance or delinquencies caused by the disaster to the nation’s credit bureaus.
Freddie Mac is also reminding servicers to consider borrowers who work in eligible disaster areas, but have homes in unaffected areas, for Freddie Mac’s standard relief policies, which include forbearance or mortgage modifications.
See http://www.freddiemac.com/singlefamily/service for a description of Freddie Mac disaster relief policies.
Source: Freddie Mac
Additional Resource:
FEMA (Presidential Disaster Declaration for West Virginia)
Investor Update
June 30, 2016
We’ve updated our Workout Settlements website with additional tips to help you successfully navigate and complete your settlements.
The new Workout Settlements Spotlight addresses common questions and issues we’ve heard about from you. We’ll update it periodically to provide you with helpful insights into the settlement process.
Check out the June Spotlight today!
For More Information
Source: Freddie Mac
Investor Update
June 8, 2016
In Single-Family Seller/Servicer Guide (Guide) Bulletin 2016-10, we’re revising requirements related to the Home Affordable Modification Program (HAMP®) expiration, extending the Lender-Placed Insurance (LPI) deductibles mandatory effective date for certain Servicers, and more.
Our shared commitment to servicing excellence means we’re always looking for ways to make things better, one change at a time.
Key Highlights
Reminders
For More Information
Source: Freddie Mac
Investor Update
June 29, 2016
Today’s Single-Family Seller/Servicer Guide (Guide) Bulletin 2016-12, announces a variety of selling and servicing updates, including:
ARM Lifetime Floor
Freddie Mac Technology
Home Possible® Mortgages
Review today’s Guide Bulletin for details on the above changes and other updates.
For More Information
Source: Freddie Mac
Investor Update
June 30, 2016
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its first report providing information about the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises). The Enterprise Non-Performing Loan Sales Report includes NPL sales data through May 31, 2016 and preliminary outcomes for borrowers through December 31, 2015. NPL sales reduce the number of severely delinquent loans in the Enterprises’ portfolios and the rules are subject to FHFA requirements that encourage NPL buyers to prioritize outcomes for borrowers other than foreclosure.
“This report reflects the first available results since the Enterprises started to sell NPLs and since we put in place enhanced requirements for servicing these loans,” said FHFA Director Melvin L. Watt. “The report demonstrates our commitment to transparency as we work to achieve more favorable outcomes for borrowers and for the Enterprises by providing alternatives to foreclosure whenever possible. Because the program is new, we have only preliminary data about outcomes to share, but we will continue to provide regular reports as we gain new outcome information,” said Watt.
The report shows that, as of the end of May of this year, the Enterprises have sold over 41,600 NPLs with a total unpaid principal balance of $8.5 billion.
The outcomes in the report are based on only the 8,849 NPLs that were sold by June 30, 2015 and reflect outcomes only through December 31, 2015. This preliminary outcome information suggests the following:
Future NPL Sales Reports are expected to be published twice each year.
Link to Non-Performing Loan Sales Report?
?Link to NPL page on FHFA.gov? (Guidelines, etc.)
Contacts:
Media: Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030
C?onsumers: Consumer Communications or (202) 649-3811?
Source: FHFA
Investor Update
June 15, 2016
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its 2015 Report to Congress. The statutorily-required report provides information about FHFA’s 2015 examinations of Fannie Mae, Freddie Mac (the Enterprises), 11 Federal Home Loan Banks (FHLBanks) and the FHLBanks’ Office of Finance. The report also describes FHFA’s actions as conservator of Fannie Mae and Freddie Mac during the year and it describes the Agency’s regulatory guidance, research and publications.
Link to 2015 Report to Congress
Contacts:
?Media: Stefanie Johnson (202) 649-3030 / Corinne Russell (202) 649-3032
Consumers: Consumer Communications or (202) 649-3811
Source: FHFA
Investor Update
June 23, 2016
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today reported that Fannie Mae and Freddie Mac completed 49,573 foreclosure prevention actions in the first quarter of 2016, bringing the total number of foreclosure prevention actions to nearly 3.7 million since the start of the conservatorships in September 2008. These measures have helped more than 3.0 million borrowers stay in their homes, including nearly 1.9 million who received permanent loan modifications.
Further details can be found in FHFA’s first quarter Foreclosure Prevention Report?, which also includes data on Fannie Mae and Freddie Mac home retention actions, delinquency data and real estate owned (REO) inventory. FHFA publishes the report data in an online, interactive Borrower Assistance Map accessible through FHFA.gov.
Other foreclosure prevention data for Fannie Mae and Freddie Mac noted in the quarterly report include:
Contacts:
Media: Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030
Consumers: Consumer Communications or (202) 649-3811
Source: FHFA
Investor Update
June 14, 2016
April 2016 Highlights
Total refinance volume increased in April 2016 after a decrease in mortgage rates in the first quarter.
Mortgage rates decreased in April: the average interest rate on a 30?year fixed rate mortgage fell to 3.61 percent from 3.69 percent in March.
In April 2016:
Year to date though April 2016:
Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.
Ten states accounted for over 60 percent of the nation’s HARP eligible loans with a refinance incentive as of December 31, 2015.
Attachments: Refinance Report – April 2016
Source: FHFA
Investor Update
June 22, 2016
Today, the Federal Housing Administration’s (FHA) Office of Single Family Housing published Mortgagee Letter 2016-09, Delivery of Advice of Payment and Title Approval, which announces the elimination of hard copy mailings of Advice of Payment and Title Approval letters to holders and servicers, with certain exceptions1, as the information is available electronically through the FHA Connection (FHAC) system. FHA will discontinue the hard copy mailings on June 28, 2016.
As noted in today’s Mortgagee Letter, elimination of the hard copy mailings of the two letters does not change the FHA requirement that the information be maintained by the mortgagee in the mortgagee’s Claim Review File. In addition, the Mortgagee Letter contains Single Family Housing Policy Handbook 4000.1 (SF Handbook) changes that will supersede sub-sections of the SF Handbook’s Claims and Disposition section when this section becomes effective on September 30, 2016. The SF Handbook changes noted in the Mortgagee Letter are planned to be incorporated into the SF Handbook in September 2016.
1. Claims processed outside of FHAC (e.g., Hawaiian Home Lands, Indian Lands, and re-conveyance) will continue to receive hard copy, mailed Advice of Payment and Title Approval letters.
Quick Links
TOTAL Mortgage Scorecard Counsel Type Field Data Change Reminder
On June 11, 2016, the Federal Housing Administration (FHA) implemented technical changes to its Technology Open To Approved Lenders (TOTAL) Mortgage Scorecard. As a reminder, as of June 11, all TOTAL Mortgage Scorecard submissions now require a response in the Counsel Type field.
The two Counsel Type field response options are:
Blank or “N/A” responses are no longer acceptable values. Automated Underwriting System (AUS) vendors have made accommodations to their systems for this change.
Mortgagees’ accurate responses in this field are critical for allowing HUD to measure its progress toward meeting its goal to increase the number of FHA-insured mortgages with borrowers who are benefitting from housing counseling. This data will also provide valuable insights regarding the role of counseling in FHA programs; its ability to improve outcomes for borrowers; and to strengthen the health of the FHA’s Mutual Mortgage Insurance Fund.
Quick Links
Resources
— Visit our online knowledge base to obtain answers to frequently asked questions 24/7 at:
www.hud.gov/answers.
— E-mail the FHA Resource Center at answers@hud.gov. Emails and phone messages will be responded to during normal hours of operation, 8:00 AM to 8:00 PM (Eastern), Monday through Friday on all non-Federal holidays.
— Call 1-800-CALLFHA (1-800-225-5342). Persons with hearing or speech impairments may reach this number by calling the Federal Relay Service at 1-800-877-8339.
Source: HUD
