Author: United States. Federal Housing Finance Agency. Office of Inspector GeneralPublisher:
ISBN:
Category : Apartment houses
Languages : en
Pages : 26
Book Description
FHFA's Oversight of the Asset Quality of Multifamily Housing Loans Financed by Fannie Mae and Freddie Mac
Author: United States. Federal Housing Finance Agency. Office of Inspector GeneralPublisher:
ISBN:
Category : Apartment houses
Languages : en
Pages : 26
Book Description
FHFA Oversight
Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored EnterprisesPublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 64
Book Description
Mortgage Financing
Author: U. s. Government Accountability OfficePublisher: Createspace Independent Pub
ISBN: 9781482780758
Category : Business & Economics
Languages : en
Pages : 108
Book Description
From 1994 through 2011, the multifamily loan activities of Fannie Mae and Freddie Mac (the enterprises) generally increased. In this period, Fannie Mae held a lower percentage of multifamily loans in its portfolio than Freddie Mac. While the enterprises' multifamily business operations generally were profitable, both enterprises reported losses in 2008 and 2009. In recent years, Fannie Mae and Freddie Mac played a larger role in the multifamily marketplace, and their multifamily activities contributed considerably to meeting their affordable housing goals (set by their regulator for the purchase of mortgages that serve targeted groups or areas). Before 2008, the enterprises financed about 30 percent of multifamily loans. Their share increased to 86 percent in 2009, but decreased to 57 percent in 2011 as other participants reentered the market. GAO's analysis showed that multifamily activities greatly contributed to the enterprises' ability to meet affordable housing goals. For example, the enterprises' multifamily activities constituted 4.5 percent of their total business in 2008, but about a third of the units used to meet the goal of serving low- and moderate-income persons were multifamily units. The enterprises have purchased multifamily loans that generally performed as well as or better than those of other market participants, but the Federal Housing Finance Agency (FHFA) has identified deficiencies in their credit risk management. In 2005-2008, the enterprises' serious delinquency rates (less than 1 percent) were somewhat lower than the rates on multifamily loans made by commercial banks and much lower than rates for multifamily loans funded by commercial mortgage-backed securities. FHFA, through its examination and oversight of the enterprises, identified a number of credit risk deficiencies over the past few years. For example, FHFA found deficiencies in Fannie Mae's delegated underwriting and servicing program, risk-management practices, and information systems; and Freddie Mac's management of its lower-performing assets. Both enterprises have been taking steps to address these deficiencies.
Oversight of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac)
Author: United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Capital Markets, Securities, and Government Sponsored EnterprisesPublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 1100
Book Description
Fannie Mae and Freddie Mac
Author: Gene L. DodaroPublisher: DIANE Publishing
ISBN: 1437922120
Category : Law
Languages : en
Pages : 73
Book Description
Congress estab. Fannie Mae and Freddie Mac (the enterprises) with 2 key housing missions: (1) provide stability in the secondary market for residential mortgages; and (2) serve the mortgage credit needs of targeted groups such as low-income borrowers. To accomplish these goals, the enterprises issued debt and stock, and purchased mortgages from lenders with the proceeds. On Sept. 6, 2008, the Fed. Housing Finance Agency placed the enterprises into conservatorship out of concern that their deteriorating financial condition would destabilize the financial system. This report discusses the enterprises' performance in meeting mission requirements, identifies and analyzes options to revise their structures, and discusses key transition issues. Illus.
Oversight of Federal Housing Finance Agency
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban AffairsPublisher:
ISBN:
Category : Federal aid to housing
Languages : en
Pages : 72
Book Description
Federal Housing Finance Agency
Author: William B. ShearPublisher: DIANE Publishing
ISBN: 1437938302
Category : Business & Economics
Languages : en
Pages : 44
Book Description
This is a print on demand edition of a hard to find publication. The Fed. Home Loan Bank System is a government-sponsored enterprise comprising 12 regionally-based Federal Home Loan Banks (FHLB), the primary mission of which is to support housing finance and community and economic development. Each FHLB makes loans (advances) to member financial institutions in its district, such as banks, which traditionally are secured by single-family mortgages. In 1999, the Gramm-Leach-Bliley Act authorized FHLB to accept alternative forms of collateral, such as agricultural and small business loans, from small members. This report assessed: (1) factors that may limit the use of alternative collateral; and (2) selected aspects of the Federal Housing Finance Agency's related regulatory oversight practices. Illus.
Evaluation of Federal Housing Finance Agency’s Oversight of Fannie Mae’s and Freddie Mac’s Executive Compensation Programs
Author: Publisher: DIANE Publishing
ISBN: 1437984460
Category :
Languages : en
Pages : 37
Book Description
Housing Finance Reform
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban AffairsPublisher:
ISBN:
Category : Apartment houses
Languages : en
Pages : 134
Book Description
Mortgage Financing
Author: U.s. Government Accountability OfficePublisher: Createspace Independent Publishing Platform
ISBN: 9781974200955
Category :
Languages : en
Pages : 104
Book Description
" Congress established the enterprises to provide stability in the secondary market for residential mortgages and serve the mortgage credit needs of targeted groups. But in September 2008, FHFA placed the enterprises in conservatorship out of concern that their deteriorating financial condition would destabilize the financial system. As Congress and the Executive Branch have explored options for restructuring the enterprises, most of the discussion has focused on the single-family market. But the enterprises also play a large role in providing financing for multifamily properties (those with five or more units). GAO was asked to describe (1) how the enterprises' multifamily loan activities have changed, (2) the enterprises' role in the multifamily financing marketplace and how they met affordable housing goals, and (3) how the enterprises' multifamily delinquency rates compare with those of other mortgage capital sources and how they have managed their credit risk. To address these objectives, GAO analyzed (1) loan-level data from 1994 (the earliest period for which loan-level data were available) through 2011 from the enterprises and (2) data from the Mortgage Bankers Association; interviewed key multifamily housing stakeholders; and reviewed FHFA examination reports. FHFA, Fannie Mae, and Freddie Mac provided technical comments, which"