Alarmed by the administration’s repeated references to ending the conservatorships of Fannie Mae and Freddie Mac, leading Democrats in the Senate are attempting to tap the brakes.
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.
The controversial software giant will use its AI-powered financial crimes detection technology to scour Fannie’s vast databases for signs of mortgage fraud, starting with multifamily loans.
A coalition of more than two dozen affordable and fair housing advocacy groups urged FHFA and HUD to reverse course on staffing cuts and program eliminations.
House Democrat Susie Lee of Nevada wants some answers about how many foreclosed homes in her state are bought by well-heeled investors from other places and how that affects the availability of affordable housing.
In post on X, FHFA Director Bill Pulte nudged the Federal Reserve chair to hike rates: “Jerome Powell cut rates right before the election at ‘higher’ levels of inflation. Why won’t he cut now?”
Many stakeholders remain skeptical of the Trump administration’s efforts to release the GSEs from conservatorship, but some analysts now say the process need not meaningfully impact mortgage rates.
The president’s plan to maintain the implicit guarantee of Fannie Mae and Freddie Mac MBS still leaves unanswered many questions that skeptics say are critical to the GSEs’ safe and sound exit from conservatorship.