Fair Lending Shake-Ups: CFPB Vacates Townstone Settlement, FHFA Ends GSEs' Special Purpose Credit Programs — The Consumer Finance Podcast
The Department of Housing and Development is seeking information about the impact that the frequent use of Buy Now, Pay Later (BNPL) products may have on borrowers’ ability to meet housing-related expenses, including rent or...more
Fannie Mae (1938) and Freddie Mac (1970) were created with the end goal of promoting homeownership across the United States. Fannie Mae and Freddie Mac, both government-sponsored entities (“GSEs”), are publicly traded and...more
This month’s Alert updates recent housing legislation, including proposed amendments to the DC Tenant Opportunity to Purchase Act (TOPA), the launch of the DC RentRegistry portal, and updates to Montgomery County's rent...more
On March 25, it was reported on social media that FHFA Director William Pulte signed an order terminating the Special Purpose Credit Programs (SPCPs) previously covered by Fannie Mae and Freddie Mac. The SPCPs provided...more
The Federal Housing Finance Agency (FHFA) has taken two significant deregulatory steps affecting its oversight of the government-sponsored enterprises, Fannie Mae and Freddie Mac (GSEs). The agency rescinded a 2024 advisory...more
On March 14, the FHFA announced that Director William Pulte was sworn in as its fifth director in a ceremony held in Washington, D.C., on March 14. Pulte was appointed by President Trump and will serve a five-year term...more
January 14, 2025- Federal Deposit Insurance Corporation Chair Martin Gruenberg gave a speech entitled “Three Financial Crises and Lessons for the Future,” at the Brookings Institution....more
On November 1, the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) and the FHFA announced the creation of a working group to increase capital for affordable housing lending from the FHLBs. ...more
On June 20, FHFA released its request for input (RFI) on the application process for the Federal Home Loan Banks’ (FHLBanks) Affordable Housing Program (AHP). FHFA invited input on all aspects of the AHP application process,...more
On April 18, Sandra L. Thompson, Director of the FHFA, addressed the U.S. Senate Committee on Banking, Housing, and Urban Affairs, emphasizing FHFA’s role in promoting access to affordable housing for homebuyers and renters...more
On November 13, FHFA released an advisory bulletin on the FHLBank Framework for Pilot and Voluntary Programs. The desire for FHFA to develop innovative pilot programs is to support “affordable housing, equity advancement, and...more
The Federal Housing Finance Agency (FHFA) has issued a Request for Input (RFI) to gather public input on tenant protections in multifamily properties backed by Fannie Mae and Freddie Mac. The FHFA aims to understand the...more
As a follow-up to our prior alert, we wanted to provide an update to legislative activities in the region: New Prince George’s County Updated Rent Control FAQs. We continue to receive many questions regarding the...more
For those who may have missed it, the Federal Housing Finance Agency (FHFA) just released the 2022 multifamily loan caps for Fannie Mae and Freddie Mac (the Enterprises) increasing each Enterprise's multifamily cap to $78...more
On Sept. 1, 2021, the White House announced a set of policies designed to increase the supply of affordable housing, with a goal of producing nearly 100,000 additional affordable homes over the next three years. The policies...more
In the News. Institutional Shareholder Services (ISS) published its proxy voting guidelines updates for 2021, which include new and updated voting recommendations on federal forum and exclusive forum provisions in companies’...more
On May 12, 2020, the Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA) and U.S. Department of Housing and Urban Development (HUD) announced a joint COVID-19 mortgage and housing assistance...more
The prospect of the U.S. Congress acting on housing reform this year remains unlikely. The House Democrats’ determination to formalize the impeachment inquiry into President Trump’s involvement with Ukraine and begin public...more
SEC Statement on Potentially Unlawful Online Platforms for Trading Digital Assets - On March 7, 2018, the Divisions of Enforcement and Trading and Markets of the Securities and Exchange Commission released a "Statement on...more
Financial Industry Developments - Federal Reserve Board Announces Finalized Rule Adjusting the Board's Maximum Civil Money Penalties - On January 18, 2017, the Federal Reserve Board announced that it was adjusting...more
On December 13, 2016, the Federal Housing Finance Agency (FHFA) issued a final rule implementing the Duty to Serve provisions mandated by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended...more
On August 2, 2016, the Consumer Financial Protection Bureau (“CFPB”) published a new guidance document titled CFPB’s Principles for the Future of Loss Mitigation (the “Guidance”), which outlines a recommended framework for...more
Pursuant to the Housing and Economic Recovery Act of 2008, which amended the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, federal law requires the Federal National Mortgage Association (Fannie Mae)...more
On December 15, 2015, the Federal Housing Finance Agency issued a proposed rule that would require Fannie Mae and Freddie Mac to provide specific services relating to manufactured housing, affordable housing preservation and...more
On October 19, 2015, the Federal Housing Finance Agency issued a Final Notice indicating that it will continue to use “expanded-data” House Price Index when establishing Freddie Mac and Fannie Mae’s maximum conforming loan...more