The government-sponsored enterprise said it has identified a significant number of fraudulent appraisals tied to mortgages originated between 2021 and 2023.
If the government-insured mortgage programs don't follow FHFA in shifting to a bi-merge process, then it's not worth making the switch for GSE loans, according to CHLA.
"What Fannie and Freddie and the FHFA should be doing is trying to convince Congress it’s time to get them out of conservatorship," said James Lockhart, the former director of the Federal Housing Finance Agency.
A coalition of most of the major mortgage industry participants says FHFA and the GSEs should be more transparent about how they assessed and validated the new credit score models.
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