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.
The controversial software giant will use its AI-powered financial crimes detection technology to scour Fannie’s vast databases for signs of mortgage fraud, starting with multifamily loans.
A coalition of more than two dozen affordable and fair housing advocacy groups urged FHFA and HUD to reverse course on staffing cuts and program eliminations.
House Democrat Susie Lee of Nevada wants some answers about how many foreclosed homes in her state are bought by well-heeled investors from other places and how that affects the availability of affordable housing.
In post on X, FHFA Director Bill Pulte nudged the Federal Reserve chair to hike rates: “Jerome Powell cut rates right before the election at ‘higher’ levels of inflation. Why won’t he cut now?”
President Trump said he’s seriously considering letting Fannie Mae and Freddie Mac go public. Industry participants are now waiting for specific details.
FHFA Director Bill Pulte criticized recent cost increases by FICO and indicated he’ll continue the move from Classic FICO to a combination of FICO 10T and VantageScore 4.0.
Speaking at the MBA’s secondary and capital markets conference this week, Fannie and Freddie executives appeared to tailor their remarks to address the priorities of the new FHFA director.
If confirmed as Treasury’s head of domestic finance, Jonathan McKernan could have a say in whether the GSEs are released from conservatorship. If so, he may have to renounce an FHFA rule created when he was senior counsel at the agency.
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