Analysts suggest that the proprietary credit scores of the GSEs, if released prior to pooling loans into MBS, could serve as the basis for a new category of specified pool.
Even though FHFA Director Bill Pulte spent much of last year floating the idea of LLPA reform as a way to lower the cost of a mortgage, the new LLPA grids for VantageScore 4.0 were not accompanied by a reduction in fees for Classic FICO loans.
The ranking member of the Senate Committee on Banking, Housing and Urban Affairs pressed FHFA Director Bill Pulte and HUD Secretary Scott Turner to describe their plans to enforce new restrictions on home purchases by Wall Street and private equity firms.
Seth Appleton, president of USMI, promptly announced the PMI trade group’s support for Pulte’s efforts to align the GSEs’ policy regarding mortgage insurance.