The far-reaching impacts of shifting from Classic FICO to a combination of FICO 10 T and VantageScore 4.0 have lenders worried about customer relations and fair lending problems.
Housing advocates say weaker goals don’t give the GSEs enough incentive to support underserved communities; lenders say they give needed leeway when markets are unpredictable.
The FHLBank is extending the terms and reducing the haircut on collateral pledged by non-depository CDFIs and state-chartered HFAs (which technically aren’t even members).
A new advisory bulletin streamlines the application process for an affordable housing subsidy and makes the rules more compatible with those of other affordable housing funders.
Large nonbanks serviced 40.0% of all loans in mortgage-backed securities issued by Fannie Mae and Freddie Mac as of the end of September. (Includes two data tables.)
The Council of Federal Home Loan Banks said Treasury’s proposal that the FHLBanks use their excess retained earnings to support affordable housing is asking them to operate on minimum capital levels.
AXIS Insurance became the second entity to settle in a Freddie lawsuit alleging that some D&O insurance providers refused to properly reimburse the GSE for legal expenses incurred during the 2008 crisis.
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