American Land Title Association
Print Friendly
Home  >  News Room
News Room

SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software

North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

OFHEO Reaches Agreements With Fannie Mae, Freddie Mac On Subordinated Debt, Disclosures

September 5, 2005

   Related Information
Fannie Mae Letter to OFHEO and OFHEO Response

Freddie Mac Letter to OFHEO and OFHEO Response

WASHINGTON, D.C. — The Office of Federal Housing Enterprise Oversight (OFHEO), safety and soundness regulator for Fannie Mae and Freddie Mac today announced formal agreements with the companies, replacing voluntary commitments made by the companies in October 2000.

"These agreements represent an evolution from a set of voluntary actions to a set of enforceable commitments that will be overseen by OFHEO and will operate within a predictable supervisory framework," said OFHEO Acting Director Stephen A. Blumenthal.

Subordinated Debt: Each Enterprise commits to a program of issuing subordinated debt and will submit an issuance plan for review by OFHEO every six months. Each Enterprise will maintain, at four percent or more, the ratio of its qualifying subordinated debt plus core capital to the sum of its assets and .45 percent of its outstanding net mortgage-backed securities. Subordinated debt with remaining maturity of less than five years will receive partial credit.

Liquidity Management and Contingency Planning: OFHEO will oversee strong liquidity positions and adequate contingency planning at the Enterprises.

Public Disclosures: OFHEO will review public disclosure regarding subordinated debt, liquidity management, interest rate risk, credit risk and a risk rating by a nationally-recognized rating agency. In particular, OFHEO will seek to have the Enterprises more closely conform their duration measures.

OFHEO’s examination teams will supervise implementation of the agreements as part of their ongoing regulatory responsibilities.

Print Friendly

Copyright © 2004-2016 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment