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19 Aug 2019, 1:48 pm by Kenneth Duvall and Philip R. Stein
The Consumer Financial Protection Bureau (CFPB) recently announced that it will allow the so-called “GSE patch” to expire in January 2021.[1] This patch permits Government-Sponsored Entities Fannie Mae and Freddie Mac to buy loans even though the borrower’s debt-to-income (“DTI”) ratio exceeds the standard limit of 43%.[2] The CFPB’s decision revives a long-standing debate about what constitutes a creditworthy loan. [read post]
19 Aug 2019, 11:50 am by Christopher J. Willis
  It appears that the second defense could apply in a variety of situations, including when a mortgage lender uses the automated underwriting systems of Fannie Mae or Freddie Mac. [read post]
5 Aug 2019, 4:24 pm by Ashley Halvorsen
These considerations are prompted by the January 2021 expiration of rules in which certain mortgage loans eligible for purchase or guarantee by Freddie Mac or Fannie Mae, which do not otherwise meet the debt-to-income ratio requirements, fall under the current definition of qualified mortgage. [read post]
1 Aug 2019, 2:56 pm by Adam Levitin
 The GSE Patch was not originally intended to be permanent because the assumption at the time it was adopted in 2013 was that Fannie Mae and Freddie Mac would not still be in conservatorship and that GSE reform would necessitate a revision of QM. [read post]
29 Jul 2019, 2:15 pm by Richard J. Andreano, Jr.
The CFPB notes that Fannie Mae and Freddie Mac purchased nearly 52% of all closed-end first-lien residential mortgage loans made in 2018. [read post]
25 Jul 2019, 6:31 pm by Adam Levitin
 The GSE Patch was not originally intended to be permanent because the assumption at the time it was adopted in 2013 was that Fannie Mae and Freddie Mac would not still be in conservatorship and that GSE reform would necessitate a revision of QM. [read post]
19 Jul 2019, 4:49 am by Roger Stelk
Freddie Mac and Fannie Mae Freddie Mac and Fannie Mae loans only require a down payment of 3% for conventional mortgages. [read post]
8 Jul 2019, 1:39 pm by jordanlulich3@gmail.com
Currently Fannie Mae lenders generally do approve digital closings. [read post]
8 Jul 2019, 1:39 pm by jordanlulich3@gmail.com
Currently Fannie Mae lenders generally do approve digital closings. [read post]
28 Jun 2019, 12:30 pm by John Ross
Can he sue Fannie Mae, who appointed the loan servicing company, for service so bad it was tortious? [read post]
28 Jun 2019, 11:17 am by Wayne D. Holly
These fraudulent bankruptcies invoked the automatic stay provision of the bankruptcy code, preventing Fannie Mae and the financial institutions from conducting lawful foreclosure sales and obtaining title to the property. [read post]
19 Jun 2019, 6:03 am by Staff Attorney
In April 2011 a customer filed a complaint alleging that Busco violated the securities laws by, among other things, that Busco made unsuitable investments in Fannie Mae and Freddie Mac causing $120,000 in damages. [read post]
4 Jun 2019, 7:13 am by Ezra Rosser
Abstract below: The future of Fannie Mae and Freddie Mac remains muddled. [read post]
29 Apr 2019, 7:39 pm by Gregory Sisk
This decision should affirm the breadth of tort liability not only for the TVA, but also for other government corporations and agencies that are subject to sue-and-be-sued clauses and that engage in commercial activities, such as the Federal National Mortgage Association (Fannie Mae) and Amtrak. [read post]
29 Apr 2019, 12:55 pm by ccollins
This decrease led to a loss in profits for those underwriting and trading in Fannie Mae and Freddie Mac bonds. [read post]
12 Apr 2019, 4:26 am by Andrew Lavoott Bluestone
On October 27, 2015, Fannie Mae assigned the mortgage and note to the defendant Nationstar. [read post]
4 Apr 2019, 12:53 pm by Heather Cobun
Baltimore joined plaintiffs from around the country this week by filing a federal lawsuit in New York alleging a price-fixing conspiracy by banks that purchase and sell debt issued by Fannie Mae and Freddie Mac. [read post]
12 Mar 2019, 3:54 pm by Barbara S. Mishkin
  The “patch” is an exemption created by the CFPB’s QM rule from its 43 percent debt to income ratio cap for mortgages eligible for purchase by Fannie Mae or Freddie Mac. [read post]