Implementation of UAD 3.6 has proceeded steadily during broad production, with mandatory implementation still set for Nov. 2. UAD 2.6 appraisals submitted on or after that date will fail, even if the appraisal was conducted prior to the mandate.

Changes at Freddie Mac simplify income history verification for both self-employed and non-self-employed borrowers. That includes certain borrowers who receive guaranteed payments from a partnership.

The Chicago-based fintech said its new title insurance waiver program could accelerate the mortgage process and potentially save qualified refinance borrowers as much as $2,500 in closing costs.

The GSE said loans originated by lenders using Freddie’s tools are $1,700 less costly than those originated by lenders who don’t.

Single-family MBS issuance by Fannie Mae and Freddie Mac increased by 8.5% from March to April. Lenders boosted their deliveries without compromising on underwriting standards for purchase mortgages. (Includes two data tables.)

Until Fannie and Freddie are more transparent about the loan-level pricing adjustment grids for the new credit score, lenders and investors will remain cautious about its implementation.

The GSE beefed up requirements for smaller multifamily properties and inexperienced owners.

Fannie Mae belatedly joined Freddie Mac in establishing ground rules for seller/servicers that deploy or manage artificial intelligence or machine learning tools while doing business with the enterprise.

The move will increase the size of eligible loans and the number of units allowed, but stiffer qualification requirements may alienate smaller landlords.

Large lenders increased their share in the conventional mortgage market even as their GSE volume fell. (Includes two data tables.)