FHFA Director Bill Pulte said 21 large lenders will roll out the new score with the GSEs, though all lenders are eligible. FHA also plans to accept VantageScore and FICO 10T.
The final rule eliminating disparate impact from enforcement of the Equal Credit Opportunity Act was issued as it was proposed in November, despite more than 64,000 comments on the proposal.
The trade group called for the CFPB to implement regulatory reforms across the board so that all sizes of lenders can see lower costs and boost mortgage access.
The relatively level trajectory for interest rates presents an opportunity for more lenders to offer non-agency products, according to non-agency boosters.
The National Treasury Employees Union said the DC District Court should take up the review of the Trump administration’s revised layoff plan for the CFPB. However, the union said it opposes the administration’s 45-day timeline for the review.
With the Trump administration working under CRA requirements set in 1995, fair housing advocates asked states to step up and implement their own CRA laws.
As part of its ongoing “deregulatory agenda,” the CFPB said it is focused on reconsidering the Section 1071 and Section 1033 final rules and potentially pursuing a rulemaking under ECOA.