Despite FHFA’s decision to require that lenders provide both a VantageScore 4.0 and a FICO 10T credit score, it may be years before the market can implement the new scores.
OIG says the agency’s procedures for disposing of old hard drives and other electronic media still need work to make sure confidential data doesn’t get into the wrong hands.
The new pricing matrices for Fannie and Freddie may create modest net increases in the cost of a mortgage, but FHFA says that will support more lending for low-income borrowers.
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.
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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