FHFA
announces new refinance option for low-income borrowers
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
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
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.
NAFCU's
State of the Industry Event
Hear from the CU industry's best minds
as they delve deep into the data, trends and takeaways you need now to push past
the pandemic, at our complimentary virtual event.
Lawmakers
weigh options to address harmful rent-a-bank practices
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.
