The Federal Reserve’s plan to reduce the size of its balance sheet by $100 billion a month may have been too ambitious. Last year, actual run-off was closer to $75 billion a month.
If the GSEs required stricter energy codes on new homes, savings on utility bills would cover borrowers’ costs within three years, a coalition of advocacy groups said in a letter to the Federal Housing Finance Agency.
A new option in Desktop Underwriter allows lenders to pre-qualify borrowers with a single soft pull credit file. However, a hard pull tri-merge credit report will still be required with the actual loan application.
Andrew Davidson & Co. executive Richard Cooperstein says the regulatory capital requirements for the GSEs should be set at 1.5 times risk capital, about 1.13%.
Freddie clarifies how servicers should handle COVID-19 flex modifications for borrowers who recently became delinquent. Fannie announces a tool to compute the monthly income of self-employed borrowers.