The mortgage industry generally supports the limited scope of the rule. But consumer advocates believe FIRREA calls for a broader scope, including AVMs used by licensed appraisers.
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Since it was established last year, FHFA’s Climate Change and ESG Steering Committee has established eight working groups in an effort to improve the GSEs’ ability to calculate climate risks.
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An OIG audit found that eight of the 27 senior officials who left FHFA during the review period did not receive required records management training during offboarding.
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Some 1.5% of GSE loans have home equity levels below 10%, suggesting Fannie/Freddie borrowers would be resilient if home prices were to decline. More than 83% of loans have at least 30% equity.
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As of March, Freddie was named master servicer for 180 securitized transactions comprised of 11,500 loans with a combined unpaid principal balance of $44.1 billion.
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FHFA joins HUD, OCC and CFPB in an effort to promote the use of special purpose credit programs as a way to boost lending in disadvantaged communities.
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