On Aug. 21, FHFA issued private mortgage insurer eligibility updates.
FHFA announced Fannie Mae and Freddie Mac (Enterprises) issued updates to Private mortgage insurer eligibility requirements (PMIERs), as financial, operational standards.
Follows 2015 first issuance by Fannie and Freddie that aligned PMIERs, see #9448.
Document dated Aug. 21, 2024, was received on Aug. 31, 2024, due to a fixed feed.
PMIERs Updates
PMIERs Guidance 2024-01 revised available asset requirements on risk that on-balance sheet assets lose value in stress scenario; eff phased-in ends Sep. 30, 2026.
Specified assets excluded, limited, or haircut for being counted as available assets.
Any remaining required asset relief for loans in Covid forbearance agreements ends.
Also, the ongoing required asset relief for loans in disaster forbearance agreements is limited to 18 months following the date of the initial missed monthly payment.
