FHFA Director Sandra Thompson said critics of the new schedule of upfront fees for loans backed by Fannie Mae and Freddie Mac misunderstand the nature and purpose of the price changes.
The Mortgage Bankers Association is opposed to the Federal Trade Commission’s plan to ban most noncompete clauses. However, several individual commenters from the mortgage industry favor the proposal.
CFPB raises concerns about algorithms in the mortgage industry; share of borrowers buying points increased in 2022; recession coming, though home prices won’t go down as much as initially expected.
In what appears to be a response to recent bank failures, Freddie has said servicers are responsible for any losses out of custodial accounts if a depository goes bankrupt.
Mortgage industry participants said Fannie should make public a list of condo projects that are ineligible for sale to the enterprise. Fannie said lenders have other financing outlets, including holding the loans in portfolio.
The mortgage industry has raised concerns over the cost implications of both the CFPB’s proposed repeat offender registry and its proposed registry of contract terms that nonbanks use to censor customers.
Both Fannie and Freddie made significant strides in meeting the objectives laid out in their 2022 equitable housing finance plans, according to progress reports released by the enterprises.
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