Housing advocates: FHFA won’t reduce principal, offers discounted NPLs

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The Federal Housing Finance Agency doesn’t permit principal reductions on Fannie Mae and Freddie Mac loans. Some policymakers want to change that. Some policymakers want to change that.

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At the core is the basic question: Why won't FHFA director Mel Watt allow for. ” Buy-back arrangements like the one the Coronels requested. Anyway, it looks like Mel Watt is giving the affordable housing advocates the.

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The Federal Housing Finance Agency (FHFA) recently reported that nearly half of the almost 70,000 non-performing loans (NPLs) sold through last year had been resolved. FHFA released its latest Enterprise Non-Performing Loan Sales Report last week. These reports include information about the sale of NPLs by Fannie Mae and Freddie Mac.

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Investments Housing advocates: FHFA won’t reduce principal, offers discounted npls auctions benefit wall Street and hurt low-income communities

the principal in order to benefit the homeowner,”. that advocates for affordable housing and options for underserved communities.. Stein with FHFA notes that the NPL sell-off deals include provisions that force servicers associated with the buying investors to look

"The new NPL sale guidelines for Fannie Mae and Freddie Mac [announced earlier this year] aim to both reduce risk to taxpayers and achieve better outcomes for borrowers," an FHFA spokesperson said.

According to FHFA’s foreclosure prevention report for the fourth quarter of 2015 released on Thursday, from April 2009 until the end of Q4 2015, approximately 1.086 million homeowners with GSE-backed loans were granted HAMP trial mods. Out of those, 650,024 received permanent modifications.

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