Even though the preferred stock purchase agreement between the GSEs and the Treasury Department limits Fannie’s and Freddie’s capital reserves to $3 billion each, FHFA still requires the enterprises to undergo the stress test evaluation each year…
A new rule means FICO will face competition as a credit scoring model for homebuyers, potentially expanding the number of mortgage applicants dramatically.
Sheila Bair joins Fannie Mae after several years as a university executive and a board member for companies like Reuters, Host Hotels and the Industrial and Commercial Bank of China.