Dramatic reversals in provisions for credit losses drove profits at Fannie Mae and Freddie Mac during the fourth quarter of 2023.

The Federal Home Loan Bank of San Francisco becomes the first FHLBank to allow members to use mortgage loans based on VantageScore 4.0 as collateral for advances.

While FHFA didn’t provide details, lenders believe the agency wants the GSEs to coordinate their mortgage repurchase request policies.

The MBA is taking its concerns about rising costs associated with obtaining credit scores to the FHFA, CFPB and FTC. A CFPB official said the regulator is willing to consider looking into the issue.

As the Trump campaign gathers steam, investors seem to believe that means the GSEs are more likely to be released from conservatorship.

Fannie Mae issued a report on quality control issues for loans reviewed in 2023, noting instances where lenders lost rep-and-warrant relief.

Freddie Mac’s pilot program could dramatically reduce the frustrations lenders face due to repurchase requests for performing loans. For now, the initiative covers 15 lenders.

Counterintuitively, the bi-merge will increase the number of credit pulls necessary to complete the average mortgage loan application. Consumers will ultimately pay for those extra pulls.

The mortgage industry this week lamented the passing of Dave Stevens, who held several key jobs in residential finance, including both regulator and trade group CEO.

By automating its biennial review system, the FHLBank regulator has dramatically reduced the number of member institutions that are inadvertently omitted from community support reporting.