Loan limits will likely go up to $625K in 2022, but FHFA hasn’t announced it yet. Still, higher home values have convinced some lenders to boost loan limits now.WASHINGTON –
Trump Administration Unveils Newest Fannie, Freddie Reform Proposal ☘ Hoey Team ☘ eXp Realty Florida
Dated: September 9 2019
The National Association of REALTORS® and other real estate groups commended the White House’s efforts to move the ball forward on reform of the nation’s housing finance system. Proposals released by the Department of Housing & Urban Development and the Treasury Department on Thursday suggest steps for modernizing FHA and ending the federal government’s decade-long conservatorship of the government-sponsored enterprises. The proposals were in response to a March 27 memo from President Donald Trump, directing the agencies to propose meaningful reform to reduce the risk to taxpayers in future economic downturns.
The government took control of Fannie and Freddie during the 2008 financial crisis, putting it under the conservatorship of the Federal Housing Finance Agency and investing $191 billion in the agencies. Since then, the companies have returned to profitability and paid nearly $300 million back into the U.S. Treasury, according to Pro Publica’s Bailout Tracker.
The White House proposal suggests dozens of reforms aimed at protecting Fannie and Freddie, including expanding private markets and creating new competitors in the home loan arena. The timeline remains vague, and full details of the proposal are still coming to light. “We look forward to reviewing the proposal in more detail and are optimistic that, at a minimum, the White House’s efforts will shed light on the remaining mile markers on the path to reform, along with the critical role GSEs and the Federal Housing Administration play in America’s housing market,” NAR President John Smaby said in a statement.
Ahead of Thursday’s announcement, NAR posted an FAQ on the White House’s GSE reform proposal.
Smaby said the association remains committed to working with the White House and Congress to secure “pragmatic improvements to our housing finance system” and will be vigilant in negotiating provisions to protect the housing market and the important role government plays in ensuring the flow of capital for housing. NAR has proposed its own blueprint for GSE reform, which “highlights competition, protects taxpayers, and remedies the failures of the pre-crisis system while ensuring equal access for responsible, mortgage-ready Americans in every community—safeguarding the role the GSEs were intended to play in our housing market,” Smaby said.
The Obama Administration also released a housing finance reform proposal in 2011. Like that proposal, the new White House proposals face high regulatory and legislative hurdles, and NAR analysts say you can expect no change in the near term.
Article content from our Nar Realtor Magazine
Also; please check out the other blogs, and tabs to many other Links, Updates, Reports & Stats that we have here on our informational website. ☘
We hope that you find the information useful. If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team ☘ brokered by eXp Realty
“Please Share this and our informational website with anyone who you think the info will help.
Feel free to refer any family or friends; it is the greatest compliment that you can give to us; we really appreciate referrals from Past Customers, Friends and Fellow REALTORS, who we help in any way we can.
Most of our business is referrals by word of mouth; from past Sellers and Buyers who we have helped; please ask for and check out our testimonials and Sales Stats. Thanks, Barry & Kim ☘”
"Your Real Estate Concierge" If you are looking for a REALTOR® or one-stop Real Estate Team who will fully communicate; promptly, professionally, and in detail with you, to efficiently help you wit....
Latest Blog Posts
A price increase of almost 20% year-to-year is unheard of – until now. Home prices hit record highs in 19 of the 20 cities included in monthly Case-Shiller reports.WASHINGTON (AP) ;
Today’s market isn’t like the boom-bust cycle leading up to the Great Recession: Tough loan standards are the norm, plus many factors have kept housing supply low.MCLEAN, Va. –
Hello,Barry & Kim with the Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ hope that you and yours are doing good; wherever you are located at this time.Hot off the press