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.
If Freddie Mac is allowed to purchase second mortgages, critics argue there should be clearly articulated capital requirements, loan-to-value ratio limits and debt-to-income ratio restrictions.
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.
If former President Donald Trump is re-elected, there could be some drastic changes to the federal government’s involvement in the housing market, according to speakers at a Bipartisan Policy Center conference.
A coalition of trade groups has told FHFA that they can’t accurately compare new credit scores with old ones unless they have data going back prior to the financial crisis.
With banking regulators considering how to revise their Basel III endgame proposal, the U.S. Mortgage Insurers stressed that regulators should look more favorably on loans with private MI.
U.S. Mortgage Insurers warned federal banking regulators against unintended consequences to the housing market if they finalize changes to capital requirements for large banks without fixes.
A coalition of most of the major mortgage industry participants says FHFA and the GSEs should be more transparent about how they assessed and validated the new credit score models.