Fannie Mae, Freddie Mac: FHFA Seeks Public Input

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Fannie Mae, Freddie Mac: FHFA Seeks Public Input
By User:AgnosticPreachersKid (Own work) [CC BY-SA 3.0], via Wikimedia Commons

More to follow… this is the latest from the FHFA, which just broke regarding Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC)

Washington, DC – The Federal Housing Finance Agency (FHFA) is seeking input on draft requirements that would apply to private mortgage insurance companies that insure mortgage loans owned or guaranteed by Fannie Mae and Freddie Mac.  These requirements would apply only to private mortgage insurers that are currently approved to do business with Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) and those seeking approval in the future.

FHFA’s strategic plans for Fannie Mae, Freddie Mac

“Mortgage insurance counterparties must be able to fulfill their intended role of providing private capital, even in adverse market conditions,” said FHFA Director Mel Watt.  “FHFA’s Strategic Plan calls on Fannie Mae and Freddie Mac to strengthen the requirements for private mortgage insurance companies that do business with them in order to reduce Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC)’s overall risk exposure and protect taxpayers.”

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