The MBA said FHFA should allow lenders to use a single credit report when delivering mortgages to the GSEs if the initial report shows that the borrower has a credit score of 700 or higher.
The MBA and CHLA have issued statements showing mortgage industry support for a new executive order that would limit state regulation of artificial intelligence.
“The council is working with member agencies to consider where aspects of the U.S. financial regulatory framework impose undue burdens and where they harm economic growth, thereby undermining financial stability,”
Scott Bessent, secretary of the Treasury Department, said of the Financial Stability Oversight Council.
“[When] we have a different administration, an administration that believes in enforcing the law, an administration that believes in a level playing field, the apparatus is all there to turn [the CFPB] back on,” Warren said.