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 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.
Even with the implementation of new asset haircuts and other restrictions into the private mortgage insurance eligibility requirements framework, GSE-approved insurers say they will still have large available asset buffers.
Freddie Mac bulletins clarify how single-family sellers should deal with self-employed income and the types of public records searches required for multifamily sellers.
High interest rates may mean lower acquisition volumes for the GSEs, but they also mean slower prepayment speeds for the mortgages in the agencies’ guarantee books of business. (Includes data table.)
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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