As the Federal Housing Finance Agency continues to evaluate alternative credit scoring mechanisms, some experts argue that the agency isn’t doing enough to promote an updated scoring system while others say the current system works just fine.
The Federal Housing Finance Agency’s auditor concluded that Fannie Mae and Freddie Mac low-downpayment programs had a high compliance rate but fell somewhat short when it came to ensuring the homeowner education component was met.
A new report from the Federal Reserve Bank of New York says the credit-risk transfer programs launched by Fannie Mae and Freddie Mac a few years ago have helped stabilize the mortgage securities market.