Just like previous budgets proposed by President Trump, the 2021 version stands little chance of getting passed by Congress. But it does provide a win-dow into the administration’s priorities.
The agency has picked Houlihan Lokey Capital to help it identify any financial, regulatory or market risks in its path to take Fannie Mae and Freddie Mac out of conservatorship.
Director Mark Calabria believes the revised structure and new hires will ensure FHFA continues to protect taxpayers from future bailouts and delivers on its obligation to create a competitive, liquid, efficient and resilient housing-finance market.
Unlike previous models, the FICO Score 10 will consider account balances and missed payments over a 24-month period. It will flag borrowers who have consolidated credit card debt into riskier personal loans.
The bureau has tightened the use of “abusive” practices under its sweeping authority to prohibit unfair, deceptive or abusive acts or practices. Industry watchers believe the impact of the new policy might be limited.
While the Consumer Financial Protection Bureau’s plan to extend the qualified-mortgage patch was not unexpected, its proposal to eliminate the debt-to-income threshold has sparked a debate.
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