WASHINGTON – U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the State of Mississippi and provide support to homeowners and low-income renters forced from their homes due to Hurricane Isaac.

Congress will consider raising guarantee fees even more --

Not only will the FHFA raise g-fees at the state level, but Congress may “be on the prowl” for new revenue from Fannie and Freddie in order to avoid the coming fiscal cliff.

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FHFA raises g-fees on GSE mortgages by 10 basis points --

Lenders paid an average 28 basis points g-fee in 2011 to Fannie and Freddie. But after a 10 bps increase in April, the FHFA raised the g-fees another 10 bps to make room for private capital.

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Principal reductions under AG settlement remain in the dark --

Chase said some of the principal write-downs so far came on private-label mortgages that passed an NPV test, even though bond investors were promised most of the effort would be focused on servicer portfolios. The monitor himself doesn’t have a break down and won’t get one for some time.

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Fannie mortgage purchases nearly double from last year --

Fannie Mae purchased $ 81.9 billion in mortgages during the month, up from $ 43 billion one year ago. The GSE also reported a 3.5% severe delinquency rate on its mortgage portfolio, the lowest rate since April 2009.


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