FHFA Director Bill Pulte’s decision to rescind or amend existing agency guidance on fair lending and fair housing requirements has muddled the compliance requirements for Fannie and Freddie.
Pershing Square founder Bill Ackman, who earlier this year pitched a swift end to the conservatorship, now says it could take as long as three years. He also has some near-term suggestions.
Mortgage industry stakeholders discussed what happens to the UMBS, LLPAs and capital rules if shares in the GSEs are sold without letting them out of conservatorship.
Rural lawmakers protest GSE guidelines that require borrowers to have replacement cost value homeowners insurance if their mortgage is purchased by Fannie Mae or Freddie Mac.
Some economists argue that allowing originators to pick between VantageScore 4.0 and Classic FICO will lead to score inflation and lower revenue for the GSEs.
The administration’s firing of FHFA’s acting inspector general comes on the heels of the departure of several GSE executives and news that most of the ethics and internal investigations team at Fannie have been laid off.