Conflicting data from the two credit score giants muddy the waters about which best serves the GSEs and a mortgage industry eager for more competition.

Eligibility requirements put in place by the GSEs in the wake of the 2021 collapse of a condo tower in Florida continue to hobble sales and burden condo associations with high insurance and maintenance costs.

Single-family mortgage securitization by the GSEs declined by 9.7% on a monthly basis in July, with refinance business down sharply. (Includes two data tables.)

The GSEs’ automated underwriting systems now include income calculators, appraisal waivers and tools to assess the rental payment history of borrowers.

Starting in October, properties that are part of a condo project in insolvency proceedings will not be eligible for GSE loans. The rule applies immediately if the lender is already aware of the proceedings.

New standards tied to Bank Secrecy Act; UCD testing environment; servicing updates planned; Pulte makes crypto announcement; DeVito surfaces at NVR.

As the seven-plus-year redesign of the UAD and the URAR nears completion, the GSEs prepare industry stakeholders for the changes.

In a random sample of loans, Fannie found that undocumented rental income was the most common initial loan defect. Among loans more likely to have defects, “undisclosed liabilities” jumped to the top of the list.

The FHFA director’s criticism of FICO gave lenders a chance to call for price reductions on credit scores and reports. FICO countered by saying its wholesale prices are a tiny fraction of closing costs.

At the urging of FHFA Director Bill Pulte, Freddie is accelerating its release of “on hold” technologies that may help cut origination costs.