All but one of the top 10 Fannie/Freddie lenders increased deliveries to the GSEs last month. Overall, the two government-sponsored enterprises securitized 22.3% more loans in May than in April.
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GSE officials recently outlined the timeline for implementing the new credit score models and some of the challenges that implementation poses for mortgage industry stakeholders.
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FHFA recently changed the upfront fees charged by Fannie and Freddie, in part to help meet the highly conservative capital requirements imposed on them by former Director Mark Calabria. Now, critics of the fees have joined critics of the conservatorship.
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As the Biden administration focuses on ending discrimination in appraisals, trade groups and industry advocates call for standards on reconsiderations of value.
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Fannie has updated its selling guide to provide modest flexibilities on manufactured home loans, adjustable-rate mortgages and cash-out refinances.
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HeritageOne will provide financing for single-family homes located on federally designated tribal lands. Only primary residences are eligible.
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