Fannie Mae-No Politics (FNMA)

[navycmdr]

(and so did Fannie & Freddie but still held GOVT Hostage)

All 31 big banks subject to stress tests by the Federal Reserve passed the tests,
the Fed announced Wednesday. The stress scenario included a 36% decline in
home prices and an unemployment rate near 10%.

“This year’s stress test shows that large banks have sufficient capital to withstand
a highly stressful scenario and meet their minimum capital ratios,” said Michael Barr,
vice chair for supervision at the Fed.

Congress Ponders Partial Claims Program for VA on par w FHA, Fannie & Freddie

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A bill to establish a partial claim loss-mitigation option at the Department of Veterans Affairs,
bringing the VA home loan program on par with FHA, Fannie Mae and Freddie Mac, needs
some revisions, according to industry participants.

The House Committee on Veterans Affairs Subcommittee on Economic Opportunity recently
held a hearing that included feedback on H.R. 8647, the VA Home Loan Program Reform Act.

Flat Branch Home Loans CEO Karen Kreutziger Powell, testifying on behalf of the Mortgage
Bankers Association, welcomed the legislation, calling it “a standard, simple and time-tested
foreclosure prevention solution available to borrowers in other federal housing programs.”

Powell suggested some changes to the bill. For example, she said VA shouldn’t require the
borrower to repay interest on a partial claim. “No other government program requires a
repayment of the partial claim with interest, and we urge amendments to the bill to achieve
parity with other federal housing programs.”

John Bell, executive director of the VA Home Loan Guaranty Service, said the agency doesn’t
support the partial claims bill without amendments.