In a random sample of loans, Fannie found that undocumented rental income was the most common initial loan defect. Among loans more likely to have defects, “undisclosed liabilities” jumped to the top of the list.

The FHFA director’s criticism of FICO gave lenders a chance to call for price reductions on credit scores and reports. FICO countered by saying its wholesale prices are a tiny fraction of closing costs.

At the urging of FHFA Director Bill Pulte, Freddie is accelerating its release of “on hold” technologies that may help cut origination costs.

Fannie’s Desktop Underwriter and Freddie’s Loan Product Advisor were both updated to include FHFA’s 2025 area median income figures. The changes affect eligibility for duty-to-serve and affordable housing programs.

Mortgage professionals can use a free online tool from Fannie to get more accurate income calculations and benefit from rep and warrant relief for the loans they sell to the GSE.

CFPB researchers determined that, although loans for second homes declined after FHFA imposed steep fees on those loan types, the expected increase in primary-residence loans never materialized.

The integration of Condo Project Manager into Desktop Underwriter should allow lenders to quickly determine if a condo project is eligible for Fannie-backed mortgages.

Trade groups want FHFA to conduct a cost/benefit analysis before implementing the long-awaited shift from Classic FICO to FICO 10 T and VantageScore 4.0.

Lenders can now expect a streamlined feedback certificate and faster identification of rep and warrant relief.

Desktop Underwriter will now automatically populate Underwriting Findings with information from Condo Project Manager.