Interest rates on GSE refis rose almost immediately after the adverse fee was announced and when FHFA removed the fee in July 2021, interest rates responded accordingly.
“Synchronizing bi-merge credit reporting with the implementation of the new credit score model requirements will reduce complexity for market participants,” said FHFA Director Sandra Thompson.
“We are committed both to preventing conflicts of interest in our work and to preserving the independence of our staff,” said David Uejio, acting associate director of the CFPB’s supervision
division.
Mat Ishbia, chairman and CEO of United Wholesale Mortgage, suggested that competition from nonbanks is helping to push banks out of the mortgage market.
CFPB officials directed critical questions at Appraisal Foundation President David Bunton during a recent hearing by the Federal Financial Institutions Examination Council’s Appraisal Subcommittee.
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