High failure rates for lenders trying to implement new edits to certain fee disclosure requirements in Phase 3B of the Uniform Closing Database persuaded Fannie and Freddie to postpone those changes.
The mortgage industry generally supports the limited scope of the rule. But consumer advocates believe FIRREA calls for a broader scope, including AVMs used by licensed appraisers.
Since it was established last year, FHFA’s Climate Change and ESG Steering Committee has established eight working groups in an effort to improve the GSEs’ ability to calculate climate risks.
An OIG audit found that eight of the 27 senior officials who left FHFA during the review period did not receive required records management training during offboarding.
Some 1.5% of GSE loans have home equity levels below 10%, suggesting Fannie/Freddie borrowers would be resilient if home prices were to decline. More than 83% of loans have at least 30% equity.
As of March, Freddie was named master servicer for 180 securitized transactions comprised of 11,500 loans with a combined unpaid principal balance of $44.1 billion.