FHFA is showing that it’s willing to listen to industry feedback as the regulator works to transition the GSEs to new credit scoring processes. This week the agency delayed one aspect of the transition and noted plans to conduct listening sessions.
Freddie is searching for a new CEO as the GSEs mark 15 years in conservatorship. The CEOs of the GSEs also remain subject to limitations on compensation.
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.