House subcommittee chair blames "bad mortgages" in comments at hearing on government-sponsored enterprises.
Panel to discuss how government policy at Fannie and Freddie played role in housing collapse and financial crisis.
Credit union trade groups reviewing the details; concern is whether strategic defaults would be encouraged.
Trade participates in call with White House about three bills that would address mortgage modifications and refinancing.
FHFA said it has postponed but not killed idea of principal of forgiveness for Fannie and Freddie loans.
The Federal Housing Finance Agency, the federal regulator and conservator of government-sponsored mortgage giants Fannie Mae and Freddie Mac, has delivered a strategic plan for the two that envisions them becoming smaller and less relevant to the secondary mortgage market.
The discontinuance of new mortgage loans by BofA is in response to an ongoing dispute over the expenses on defective mortgages and Fannie Mae’s position on repurchases, reports say.
The Federal Housing Finance Agency has delivered a strategic plan for Fannie Mae and Freddie Mac.
The 177,000-member, $1.4 billion GTE Federal Credit Union faces a $51,000 fee from Fannie Mae because it only used foreclosure attorneys the government-backed mortgage giant approved and ordered it to use.
Fannie Mae imposes $51,000 fee for delays CU says it caused. Find out more in this article from the Feb. 8 print edition of Credit Union Times.