Thousands of stakeholders responded to FHFA’s RFI on the prospect of the GSEs establishing tenant protections for the multifamily properties they back. Most respondents were tenants.
A new option in Desktop Underwriter allows lenders to pre-qualify borrowers with a single soft pull credit file. However, a hard pull tri-merge credit report will still be required with the actual loan application.
Under the terms recommended in FHFA’s review of the Federal Home Loan Banks, 85 current members would fail to meet the 10% mortgage-related asset rule.
Andrew Davidson & Co. executive Richard Cooperstein says the regulatory capital requirements for the GSEs should be set at 1.5 times risk capital, about 1.13%.
Freddie clarifies how servicers should handle COVID-19 flex modifications for borrowers who recently became delinquent. Fannie announces a tool to compute the monthly income of self-employed borrowers.