The Supreme Court is considering whether a federal court can certify a class action when some of the class members are uninjured. MBA said the question is timely as class actions from private plaintiffs are expected to increase.

CFPB plans to revoke BNPL rule; Idaho limits mortgage trigger leads; Arkansas updates fair lending law; CFPB won’t enforce small-dollar rule; Congress moves closer to repealing bureau’s overdraft rule.

The judge said the court is “mindful that its order must be sufficiently specific to be enforceable..."

Fannie reported a 3.6% increase in seller repurchases during the fourth quarter, while Freddie volume was essentially flat. For the year, lender buybacks were down 36% from 2023. (Includes three data tables.)

FHFA under the leadership of Bill Pulte has rescinded, deleted or closed at least eight agency directives without providing notice on the agency’s website or announcing the changes in a press release.

The new FHFA director’s whirlwind first week resulted in widespread staffing cuts at the regulator and a dramatic change in leadership at the GSEs. So far, criticism has been muted.

Former Fannie and Freddie CEOs question the durability and utility of the uniform MBS in a post-conservatorship mortgage market.

Trade groups want FHFA to conduct a cost/benefit analysis before implementing the long-awaited shift from Classic FICO to FICO 10 T and VantageScore 4.0.

Lenders can now expect a streamlined feedback certificate and faster identification of rep and warrant relief.

Desktop Underwriter will now automatically populate Underwriting Findings with information from Condo Project Manager.