Sen. Elizabeth Warren, D-MA, has called for a significant increase in the FHLBanks’ required contribution to affordable housing. She also urged FHFA to change the membership eligibility requirements to encourage more housing and community development activities.
Freddie Mac CFO Christian Lown informed the board last week that he will step down at the end of this month. No reason was given for his departure, which was announced quietly via an SEC filing.
The Federal Housing Finance Agency has issued a request for information seeking industry comment on the GSEs’ plans to support underserved communities under their duty-to-serve obligations.
Fannie Mae said the new Uniform Residential Appraisal Report will depend on six new property characteristics data points to let users know what information to provide.
Fannie Mae last week notched its fifth Credit Insurance Risk Transfer transaction of the year, a $285 million deal covering a pool of 34,000 single-family mortgages.
Defects related to liabilities on student loans, income/employment verification and the appraisal process topped the list of items Fannie warns lenders to keep alert for.
As AI becomes ubiquitous in both the origination and securitization of loans, the U.S. regulatory framework is likely to evolve closer to the stricter rules used in the European Union.
The combination of the NAR settlement, better coordination between White House and FHFA, and the resurgence of the CFPB may help establish real price competition in the housing and mortgage markets.