The Trump administration is ramping up discussions regarding reforms to the government-sponsored enterprises but it’s still not clear what the result will be. Whether Congress will take action is also an open question.
Many efforts started during the Biden administration won’t move forward. But servicing reforms are still in the works at the CFPB. And the bureau is considering major changes to LO comp.
There’s speculation that the Trump administration will direct the GSEs to increase purchases of agency MBS, potentially as part of a declaration of a housing emergency. The move could help reduce mortgage rates.
The Federal Housing Finance Agency, under the leadership of Bill Pulte, has made at least three criminal referrals to the DOJ about mortgage fraud, involving two Democrats.
FICO CEO William Lansing argued that, by allowing lenders to pick between Classic FICO and VantageScore 4.0, FHFA may be creating a race to the bottom when it comes to the quality of credit scores.
New credit score data, such as rent payment history and bank account cash flows, may benefit some mortgage borrowers, but the new elements could also cause some problems.
While FHFA Director Bill Pulte had announced that the GSEs would “immediately” begin accepting VantageScore 4.0, FHFA acknowledged this week that implementation will take some time.
A new bill seeks to require FHFA to create a public database of information on all mortgage appraisals. The proposal comes as the Trump administration disbanded the Biden-era task force created to address appraisal bias.
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