Former MBA President David Stevens believes the idea that the GSEs should assess the MSR valuations of their seller/servicers may have come from Fannie and Freddie themselves.
Because the ERCF dictates that Fannie and Freddie base their underwriting on FICO scores, loans to borrowers with positive rent payment history are still subject to capital charges for less creditworthy homebuyers.
Despite extensive efforts to combat the use of biased valuations, FHFA does not refer appraisers to state licensing boards for investigations or reprimand.
The rule requires the enterprises to submit a written notice of any new activity for FHFA to review. However, they can consult with the agency in advance to determine if such a notice is required.
Attorneys for a group of Fannie Mae and Freddie Mac shareholders seeking to overturn the net worth sweep will take another swing at the Fifth Circuit Court of Appeals.
The new benchmarks for Fannie Mae and Freddie Mac reflect higher interest rates and the anticipated decline in the number of affordable units in the multifamily market.
The Mortgage Bankers Association argues that higher income thresholds would allow more minority borrowers access to low-downpayment mortgages like HomeReady and Home Possible.