Fannie Mae and Freddie Mac assured lenders that mortgages will not become ineligible for delivery solely because of the shutdown, temporarily relaxing employment verification and available reserve requirements for impacted borrowers.
By allowing the FHLBanks to once again provide credit enhancement for tax-exempt bonds, the bill’s sponsors hope it will reduce financing costs for community development in smaller municipalities.
New research — commissioned and funded by VantageScore — attempts to estimate the cost savings created by future competition between VantageScore and FICO.
The income assessment portion of Fannie’s Selling Guide has been significantly restructured, moving and rephrasing many sections, changing some policies and introducing new ones.
The Federal Housing Finance Agency said other agencies are already responsible for enforcing fair lending and fair housing laws. However, critics argued that the administration has been steadily eviscerating the enforcement arms of those agencies as well.
The Government Accountability Office said FHFA can’t accurately gauge the accuracy of the data it uses to monitor nonbanks and overlooks key risks associated with warehouse lending. FHFA agreed to address the issues.
AEI researchers said large institutional investors own about 1% of single-family homes vs. 11% for small-scale investors with low interest rate GSE-backed loans.