Also: NAFCU talks housing finance issues with FHFA's Calabria; FOMC stays consistent with rates, outlook
NAFCU TODAY | The News You Need Daily.
April 29, 2021
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FHFA announces new refinance option for low-income borrowers [ [link removed] ]
The Federal Housing Finance Agency (FHFA) Wednesday announced a new refinancing option for low-income borrowers with mortgage loans backed by the government-sponsored enterprises (GSEs). This new option could help alleviate some concerns about the GSEs' 0.5 percent adverse market refinance fee imposed last year to mitigate risks brought on by the coronavirus pandemic.
NAFCU, trades meet with FHFA's Calabria on housing finance issues [ [link removed] ]
NAFCU and several other organizations supporting the financial services and housing industries met with Federal Housing Finance Agency (FHFA) Director Dr. Mark Calabria Wednesday to discuss recent amendments to the government-sponsored enterprises' (GSEs) Preferred Stock Purchase Agreements (PSPAs). The group also discussed housing finance reform and recent efforts to move the GSEs out of conservatorship.
Fed holds rates with no indication of tighter policy on radar [ [link removed] ]
The Federal Open Market Committee (FOMC) Wednesday maintained the federal funds target rate at its current range of 0 to 0.25 percent. Of note, in an optimistic signal, the word "considerable" was removed from the statement when describing pandemic-related risks to the economy.
Lawmakers weigh options to address harmful rent-a-bank practices [ [link removed] ]
During Wednesday's Senate Banking Committee hearing on rent-a-bank schemes, lawmakers discussed ways to prevent predatory lending practices and ensure low-income, underserved communities have access to safe, affordable financial services.
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