Rep. Maxine Waters, D-CA, applauded the House’s effort to pass the Housing for the 21st Century Act, but said one bill isn’t enough to fix the housing affordability crisis.
The big homebuilders are purportedly planning to build a million starter homes to sell through a rent-to-own program. The Trump administration has distanced itself from any such proposal.
Documents released under a FOIA request indicated that the GSEs’ assessment of the new credit score requirements found that a single-bureau credit pull significantly underperformed both the tri-merge and bi-merge.
The trade group representing credit reporting agencies said MBA’s proposal to move to a single-bureau report is more about lowering costs for lenders than saving money for consumers.
With states increasing their regulation of artificial intelligence, trade groups representing the mortgage industry are concerned state regulation will interfere with federal mandates.
House Republicans blamed regulations and immigration, while Democrats believe President Trump’s effort to ban institutional investors from buying single-family homes didn’t go far enough.