FHFA under the leadership of Bill Pulte has rescinded, deleted or closed at least eight agency directives without providing notice on the agency’s website or announcing the changes in a press release.
The new FHFA director’s whirlwind first week resulted in widespread staffing cuts at the regulator and a dramatic change in leadership at the GSEs. So far, criticism has been muted.
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.
Executives from Annaly and Two Harbors worry that ending the conservatorships of the GSEs could fundamentally change the buyer base for their mortgage-backed securities.
According to FHFA’s inspector general, the Division of Enterprise Regulation has been steadily working with Freddie Mac to remedy deficiencies in the enterprise’s risk management.