Despite extensive efforts to combat the use of biased valuations, FHFA does not refer appraisers to state licensing boards for investigations or reprimand.
The rule requires the enterprises to submit a written notice of any new activity for FHFA to review. However, they can consult with the agency in advance to determine if such a notice is required.
The new benchmarks for Fannie Mae and Freddie Mac reflect higher interest rates and the anticipated decline in the number of affordable units in the multifamily market.
The Mortgage Bankers Association argues that higher income thresholds would allow more minority borrowers access to low-downpayment mortgages like HomeReady and Home Possible.
A district court judge in Houston said the plaintiffs weren’t able to prove that they were harmed because President Trump was prevented from removing FHFA Director Mel Watt from office for two years.