The Federal Home Loan Banks should do more to fulfill their affordable housing goals, according to an industry analyst.

Patrick McHenry, R-NC, new chair of the House Financial Services Committee, is viewed as a consensus-maker. But will his politics make it difficult to find common ground with the White House and Senate?

Servicers of FHA-insured loans have until April 30 to implement the revised loss-mitigation program.

Upfront fees will decline for most low-income borrowers, but will increase for some middle-income homebuyers. The result is more cross-subsidy for the GSEs’ mission-based activities.

Trade groups say small and mid-sized independent mortgage bankers don’t need more federal supervision because they pose no systemic risk.

Fannie and Freddie will soon be able to purchase mortgage loans in excess of $1 million.

The Federal Housing Finance Agency will eliminate certain upfront loan-level price adjustments while implementing “targeted” increases for most cash-out refinance transactions. The agency also approved two new credit scoring models for Fannie and Freddie.

Despite a tough economic environment, FHA Commissioner Julia Gordon believes the administration is “making progress” to expand access to credit.

The private pow-wow revealed broad agreement between government, industry and advocacy groups on how to deal with the nation’s affordable housing shortage.

Lenders say the 15-bp surcharge on broker loans penalizes low- and moderate-income borrowers and flies in the face of the principle of the level playing field.