The Federal Housing Finance Agency (FHFA) has sparked debate in the mortgage industry by directing Fannie Mae and Freddie Mac to explore whether cryptocurrency assets should be considered in loan underwriting. The potential move signals a significant shift in how digital assets might be evaluated in determining mortgage eligibility.
Shares of Fair Isaac Corp. (FICO), the company behind the widely used FICO credit score, fell sharply after a major shift in the credit scoring landscape. The drop came after Fannie Mae and Freddie Mac announced they would begin accepting the competing VantageScore 4.0 credit model, ending FICO's long-standing exclusivity in government-backed mortgage underwriting.
Mortgage rates have edged higher for the third consecutive day, with the average top-tier 30-year fixed rate now at approximately 6.81%, up from 6.67% at the end of June. While this uptick marks a short-term reversal, rates remain lower than the peaks seen earlier in the summer.
Fannie Mae and Freddie Mac have recently increased the amount of information they share about condominium developments—particularly those classified as ineligible for financing. While the move has been praised as a step in the right direction, many lenders say the enhancements still leave major gaps in transparency and usability.
Mortgage rates dipped to their lowest level since late April, driven by a rally in mortgage-backed securities (MBS) and a softer-than-expected tone from the Federal Reserve. Bond markets responded positively to Fed Chair Jerome Powell’s latest comments, which hinted at growing openness to rate cuts amid signs of labor market cooling.
The Federal Housing Finance Agency (FHFA) has requested input on its Draft Strategic Plan, which outlines its goals and objectives for the next five years. The strategic plan contains several objectives aimed at accomplishing three goals.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
A year after a 37 percent annual increase in mortgage fraud risk, the risk of fraud in mortgage lending may be greater in 2022, according to a recent report by CoreLogic. Following up on its annual fraud report last fall, CoreLogic, a property information, analytics and data-enabled solutions provider, said last month that the risk of mortgage fraud is still even higher than last year.
Opinion-Editorial (Op-Ed) Disclaimer For NAMU® Library Articles: The views and opinions expressed in the NAMU® Library articles are those of the authors and do not necessarily reflect any official NAMU® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMU®. Nothing contained in this articles should be considered legal advice.
Sandra L. Thompson, the acting director of the Federal Housing Finance Agency, appeared before the Senate Committee on Banking, Housing, and Urban Affairs last week in anticipation of taking over the agency for a five-year term. Thompson was nominated for the permanent role by President Joe Biden in December after taking over as acting director last June.
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The Federal Housing Finance Agency (FHFA) is requiring Fannie Mae and Freddie Mac to target minority communities and low-income neighborhoods as part of its annual housing goals. FHFA issued its final rule last month that establishes benchmarks for the next three years for the enterprises.
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A late-year surge in home sales prompted Fannie Mae to increase its 2021 forecast for total year sales, but its economists expect a drop off in 2022. In its December commentary, Fannie’s Economic and Strategic Research Group upgraded its home sales growth projection for 2021 to 7.1 percent from the previously projected 5.3 percent.
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The Federal Housing Finance Agency (FHFA) has issued a proposed rule that would require Fannie Mae and Freddie Mac to develop, maintain, and submit annual capital plans to FHFA. The proposed rule would mandate the following inclusions in the enterprises' capital plans…..
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The Consumer Financial Protection Bureau (CFPB) issued its final rule for mortgage lenders and other financial institutions to transition away from the LIBOR interest rate index. The rule establishes requirements for how creditors must select replacement indices for existing LIBOR-linked consumer loans after April 1, 2022.
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The rise in home values over the past two years is pushing conforming loan limits (CLLs) up nearly $100,000 for 2022. The Federal Housing Finance Agency (FHFA) announced that CLLs for next year in most of the U.S. for one-unit properties will be $647,200, an increase from $548,250 in 2021.
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Following a 60-percent decline over the previous five years, the number of newly delinquent loans held by Fannie Mae and Freddie Mac quadrupled in the first six months of this year amid new loss mitigation programs instituted to deal with the COVID-19 pandemic. The Federal Housing Finance Agency (FHFA) released the latest report on the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac last week.
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The Federal Housing Finance Agency (FHFA) has released the 2022 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions, LLC (CSS). Unlike in the previous Scorecards, the 2022 version does not mention increasing the role of private capital in the mortgage market or preparing to exit conservatorship.
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Written By: Stacey Sprain
As an FHA originator, processor or underwriter, it’s likely that in the ongoing foreclosure market you’ll run across a HUD REO loan at some point. The purpose of this multi-part article is to provide you with some useful information to help in your endeavors.