FHLB San Francisco CEO Teresa Bazemore argues that the system’s dual mandates of supporting housing and providing liquidity for FHLBank members are related.
All House Republicans and 14 House Democrats voted to undo FHFA’s revision of GSE loan-level pricing adjustments. The bill would also require future changes to the grids to follow risk-based pricing.
GSE officials recently outlined the timeline for implementing the new credit score models and some of the challenges that implementation poses for mortgage industry stakeholders.
FHFA recently changed the upfront fees charged by Fannie and Freddie, in part to help meet the highly conservative capital requirements imposed on them by former Director Mark Calabria. Now, critics of the fees have joined critics of the conservatorship.
As the Biden administration focuses on ending discrimination in appraisals, trade groups and industry advocates call for standards on reconsiderations of value.
The GSEs say the spike in repurchase requests simply reflects the historic volume in 2020 and 2021. Lenders argue there should be something short of a repurchase request for performing loans with minor defects.