The rating service focuses on the government’s implicit guarantee and the critical role the GSEs play in housing finance and the financial sector more generally. Fannie and Freddie also have healthy earnings.
By focusing on refis, FHFA will be able to assess the ability of its title insurance waiver pilot to reduce closing costs with a smaller group of lower-risk loans.
Fannie and Freddie sketch out the still murky timeline for the shift from Classic FICO to FICO 10 T and VantageScore 4.0 and the move to a bi-merge process.
Despite the added cost and delay, Hamish Hume said it was advantageous for the plaintiffs’ team to have to hold a second trial after the first one ended in a hung jury.
Cloud computing may have played a key role in helping Fannie overcome deficiencies related to its ability to continue operations in the wake of a disaster or other business interruption.
Critics argue that the new title insurance waiver pilot would only apply to wealthy homeowners. However, one tech title company said it could lower closing costs for most buyers under 120% AMI.
Fannie Mae and Freddie Mac shareholders may finally get some modest compensation for FHFA’s decision to allow Treasury to seize all of the profits of the government-sponsored enterprises.
Lenders argue that the cumulative cost of verification of income and employment, especially the electronic kind, is unreasonable and should be scrutinized by FHFA.
The Foreclosure Abuse Prevention Act, signed into law in 2022, blocks lenders from avoiding New York’s six-year statute of limitations on foreclosures by simply canceling the foreclosure. New language in Fannie’s loan modification agreement may negate FAPA’s block.
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