FHFA said lenders can now use VantageScore 4.0 when underwriting GSE loans. It’s not clear, though, if the mortgage industry is ready to take advantage of the opportunity.

The MBA said increased competition in the credit score space could improve competition in the mortgage space “if implemented correctly.”

The FHFA director last week directed Fannie Mae and Freddie Mac to figure out how to use cryptocurrency in the mortgage underwriting process.

The FHFA director’s social media posts echo President Trump’s criticism of the chair of the Federal Reserve for not lowering rates quickly enough.

FHFA’s efforts to monetize the securitization platform of the GSEs may provide entre to Wall Street banks and other competitors.

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

FHFA's director ordered Fannie and Freddie to develop proposals for including cryptocurrency in borrower reserves when underwriting mortgages.

Fannie and Freddie both issued sellers guide updates alerting lenders to upcoming changes to UAD 3.6 and URAR. Other updates affect quality control procedures, measurement standards and attorney fees.

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.

In keeping with the rest of the Trump administration, FHFA has significantly reduced public visibility into its policy and actions since Bill Pulte took over as the agency’s director.