Lenders have chafed at the temporary regulations put in place following the collapse of a Surfside, FL, condo in 2021, but those rules become permanent in September.
The inclusion of sales data on comparable properties and statistics on the racial and ethnic composition of neighborhoods should allow researchers to better identify incidents of appraisal bias.
FHLB San Francisco CEO Teresa Bazemore argues that the system’s dual mandates of supporting housing and providing liquidity for FHLBank members are related.
All House Republicans and 14 House Democrats voted to undo FHFA’s revision of GSE loan-level pricing adjustments. The bill would also require future changes to the grids to follow risk-based pricing.
GSE officials recently outlined the timeline for implementing the new credit score models and some of the challenges that implementation poses for mortgage industry stakeholders.
FHFA recently changed the upfront fees charged by Fannie and Freddie, in part to help meet the highly conservative capital requirements imposed on them by former Director Mark Calabria. Now, critics of the fees have joined critics of the conservatorship.
As the Biden administration focuses on ending discrimination in appraisals, trade groups and industry advocates call for standards on reconsiderations of value.