The vast amount of appraisal data released over the past year by FHFA has been a boon to researchers. However, many critics argue the regulator and the regulated entities should release all appraisal data.
A proposed new rule expanding the GSEs’ ability to purchase loans on properties with private transfer fee covenants should encourage more engagement in shared-equity programs.
The regulator’s new rating system will be used to assess supervisory remediation measures and, at least while the GSEs remain in conservatorship, determine executive compensation.
FHFA is showing that it’s willing to listen to industry feedback as the regulator works to transition the GSEs to new credit scoring processes. This week the agency delayed one aspect of the transition and noted plans to conduct listening sessions.
The mortgage industry generally supports the limited scope of the rule. But consumer advocates believe FIRREA calls for a broader scope, including AVMs used by licensed appraisers.
Since it was established last year, FHFA’s Climate Change and ESG Steering Committee has established eight working groups in an effort to improve the GSEs’ ability to calculate climate risks.
An OIG audit found that eight of the 27 senior officials who left FHFA during the review period did not receive required records management training during offboarding.
Some 1.5% of GSE loans have home equity levels below 10%, suggesting Fannie/Freddie borrowers would be resilient if home prices were to decline. More than 83% of loans have at least 30% equity.
FHFA joins HUD, OCC and CFPB in an effort to promote the use of special purpose credit programs as a way to boost lending in disadvantaged communities.