Experts recommend industry stakeholders start working with the new credit scores if they want to be prepared when the transition from FICO Classic to FICO 10 T and VantageScore 4.0 goes into effect.
The FHLBanks last year agreed to voluntarily raise their contributions to affordable housing programs from 10% of net income to 15%, but they balked at Treasury’s suggestion to increase that to 20%.
The mortgage giant has implemented a requirement that seller/servicers maintain and share records of the types of fraud they see as well as any specific fraud cases they’re aware of.
Landlords who repeatedly fail to provide tenants the new enterprise protections could be subject to a 0.20% penalty on their original loan amount or even a default.
All but one of the regional banks experienced a sequential decline in net income, but most reported an increase in voluntary contributions to mission-related activities. (Includes data table.)
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