Republicans may hope to use any windfall the government gets from selling its stake in the GSEs to offset revenue cuts in their “Big Beautiful Bill,” but housing advocates have other ideas.
Fannie and Freddie both issued sellers guide updates alerting lenders to upcoming changes to UAD 3.6 and URAR. Other updates affect quality control procedures, measurement standards and attorney fees.
In a random sample of loans, Fannie found that undocumented rental income was the most common initial loan defect. Among loans more likely to have defects, “undisclosed liabilities” jumped to the top of the list.
In keeping with the rest of the Trump administration, FHFA has significantly reduced public visibility into its policy and actions since Bill Pulte took over as the agency’s director.
The names of most of the members of the leadership team responsible for the activities covered in the report are no longer listed among the agency’s key management officials.
The FHFA director’s criticism of FICO gave lenders a chance to call for price reductions on credit scores and reports. FICO countered by saying its wholesale prices are a tiny fraction of closing costs.
The controversial software giant will use its AI-powered financial crimes detection technology to scour Fannie’s vast databases for signs of mortgage fraud, starting with multifamily loans.
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