Nonbank Financial

The Federal Housing Finance Agency (FHFA) has issued a final rule to establish a new regulatory capital framework for Fannie Mae and Freddie Mac (the Enterprises).

The rule, originally proposed in 2018 and based on the previous conservatorship capital framework, fulfills Congress’s mandate that the FHFA establish risk-based capital requirements for the Enterprises.

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The Federal Housing Finance Agency (FHFA) announced the 2021 multifamily loan purchase caps for Fannie Mae and Freddie Mac.

“FHFA will keep a close eye on the multifamily caps to ensure that they are sufficient and serve to increase the supply of affordable housing but do not crowd out private capital,” FHFA Director Mark Calabria said.

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Renters are one of the groups that has been hit hardest during the COVID-19 pandemic, with many losing income and having access to less options than those who pay a mortgage.

However, a new analysis from Freddie Mac shows “rent payment has remained healthier than some market participants anticipated.”

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The Federal Reserve Board adjusted the terms of the Main Street Lending Program in an effort to increase access for small businesses as revenue shortfalls continue.

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David Brickman, CEO of Freddie Mac, and Hugh Frater, CEO of Fannie Mae, had a virtual sit-down with the Mortgage Bankers Association (MBA) Chairman-Elect Kristy Fercho at this year’s MBA annual convention.

The CEOs highlighted their takeaways from their respective company’s COVID-19 responses and addressed current issues the GSEs are facing.

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The Consumer Financial Protection Bureau settled with SMART Payment Plan, LLC regarding alleged deceptive sales practices.

For more on the consent order, read on.

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The U.S. Commerce Department released its third quarter estimate for the real gross domestic product. Mortgage Bankers Association’s Mike Fratantoni issued his own analysis of the data.

For more about the estimates, and Fratantoni’s perspective, read on.

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In its response to Community Financial Services Association of America and a Texas trade group’s suit alleging the payday loan rule is illegal, the Consumer Financial Protection Bureau stated the rule was valid because Director Kathy Kraninger ratified it.

Plaintiffs and defendant have filed motions for summary judgment with the federal court in the Western District of Texas.

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FormFree recently announced its proprietary financial data analysis software has been granted a patent by the United States Patent and Trademark Office.

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The Consumer Financial Protection Bureau filed a proposed stipulated final judgment and order to settle its lawsuit against a group of companies that comprise the largest debt collector and debt buyer in the U.S.

If the U.S. District Court of the Southern District of California accepts the settlement, the companies will be required to pay consumer redress and a civil money penalty.

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