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The Federal Housing Finance Agency (FHFA), on its own behalf and as Conservator for Fannie Mae and Freddie Mac (the Enterprises), has filed a lawsuit in the U.S. District Court for the Northern District of Illinois against the city of Chicago to prevent enforcement of the city’s recently amended “Vacant Buildings Ordinance” against the Enterprises. Continue reading… FHFA Sues the City of Chicago Over Vacant Buildings Ordinance The Federal Housing Finance Agency (FHFA) back in August, 2010, published proposed “guidance” related to private transfer fee covenants that applied to Fannie Mae, Freddie Mac and Federal Home Loan Banks (the “regulated entities). The message in this guidance was that private transfer fees are bad and those regulated enterprises should stay away from lending Continue reading… Feds Propose Rule on Private Transfer Fees Dennis Norman By: Dennis Norman In this challenging real estate market agents are looking for ways to find new business and many have turned to short sales. It’s no secret that short sales can be a nightmare, taking weeks and even months to get an answer from a lender on a deal, causing many deals to Continue reading… Short sales increase by 45 percent; no end in site Dennis Norman By: Dennis Norman Today the Federal Housing Finance Agency (FHFA) reported that U.S. home prices rose 0.3 percent on a seasonally-adjusted basis from June to July and are down 4.2 percent for the past year. Many of the reports I’ve seen in the press on this are saying this is a sign of the housing market Continue reading… US Home Prices show modest 0.3 percent increase from June to July according to Federal Housing Finance Agency Charles McMillan 2009 President, NAR By: Dennis Norman National Association of REALTORS(R) 2009 President, Charles McMillansent an email to members stating “as a direct result of my recent meetings with the New York Attorney General’s office, the Federal Housing Finance Agency, Fannie Mae and Freddie Mac this week issued new guidance to all lenders on the Continue reading… NAR’s President Charles McMillan’s meeting with NY AG re HVCC produces results |
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