The reduction in fees for mortgages on homes that qualify for the GSEs’ housing goals are estimated to increase Fannie and Freddie acquisitions by 37,000 loans in 2025.
Industry trade groups noted that the increase comes on top of a 400% price hike over the past two years. They also argued that the credit re-porting bureaus will inevitably add additional price hikes.
The far-reaching impacts of shifting from Classic FICO to a combination of FICO 10 T and VantageScore 4.0 have lenders worried about customer relations and fair lending problems.
The GSEs will expand eligibility for loan modifications by revising mark-to-market LTV ratio-based requirements and using a step-by-step process until the borrower’s P&I payment is reduced by 20%.
The GSEs may not purchase mortgages for working farms or ranches, but they do buy mortgages for residential property in rural settings — even if they have some agricultural characteristics.
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