FHFA Director Sandra Thompson said the first test of its recently instituted new products rule went well, despite the relatively short timelines. But critics of Freddie’s new pilot also asked the agency to find ways to stretch out the opportunity to comment.
VA said lenders cannot include the buyer-broker compensation in the loan amount but must consider it in determining whether the borrower has sufficient liquid assets to close the loan.
Stakeholders say the GSEs’ proposed definition of “first-generation homebuyer” in their equitable housing-finance plans unfairly excludes many of the people the enterprises and the FHFA want to help.
Critics say the data giant’s exclusive contracts with data providers and strategic acquisition of potential competitors make it impossible for new market entrants to gain scale or price competitively.
Many trade groups denounced Freddie’s plan to buy second liens, saying key details were lacking. There are also concerns that Freddie’s effort will simply cannibalize an otherwise healthy and liquid non-agency market for second liens.
The Financial Stability Oversight Council wants Congress to pass legislation that would allow Ginnie Mae to expand its pass-through assistance program for nonbank servicers.
Congress should consider legislation to allow Ginnie Mae to expand its pass-through assistance program to give nonbanks a liquidity backstop, according to the Financial Stability Oversight Council.