The bulk of credit union and CUSO mortgage programs will see minimal impact from Fannie Mae and Freddie Mac limiting the secondary market to only qualified mortgages, according to credit union and CUSO executives.
Wright-Patt lending chief says unintended consequences could result from new CFPB rules put on Fannie and Freddie.
Not much impact seen from Fannie Mae, Freddie Mac decision to buy only qualified mortgages after Jan. 10, 2014.
FHFA said the GSEs will generally not buy loans that don't meet the CFPB's new "ability to repay rule."
Media sources report that Mark Zandi, chief economist at Moody's Analytics, is a lead contender to replace DeMarco.
Refinancing program had been scheduled to end at the end of 2013. Now gets two more years.
Borrowers relieved of requirement to document hardship or financial situation.
During the March 19 House Financial Services hearing on the conservatorships of Fannie Mae and Freddie Mac, Rep. Mel Watt (D-N.C.) yielded back the majority of his allotted time due to “media speculation over the weekend.”
NAFCU, CUNA join bankers, real estate lobby in supporting move to stop Fannie Mae, Freddie Mac fees going to pay off deficit.
Commmittee Chair Hensarling reiterates aim to eliminate Fannie Mae, Freddie Mac as government-sponsored enterprises.