The business assets of a related person are now an eligible source of gifts. However, the donor still cannot be the builder or another interested party.
Proposed legislation revives congressional debate about ending the conservatorships. But mortgage industry stakeholders are skeptical about the bills chance of passage.
Proposed legislation would allow Fannie Mae and Freddie Mac to purchase and securitize residential construction loans, provided those projects meet certain affordability and safety and soundness requirements.
In a scenario that Fannie and Freddie exit conservatorship, Urban Institute analysts believe that the courts will allow the uniform MBS to persist, even though it requires coordination between the GSEs that could invite antitrust litigation.
By prohibiting its affiliate brokers from sending loans to Rocket Mortgage, United Wholesale Mortgage induced price cuts by brokers not covered by its exclusivity agreements.
In a random sample of mortgages, the most common significant defect was misrepresentation of occupancy. In a targeted sample, it was undisclosed liabilities.
While FICO and VantageScore debate whose new credit score model performs best, industry insiders say the transition to new scoring models may take years.
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