The GSEs will modify reporting forms in November to allow underwriting based on VantageScore 4.0. Meanwhile, the MBA is working on a proposal that calls for dropping the tri-merge scoring process for certain borrowers.
The agency is appealing a jury verdict awarded to GSE shareholders for losses related to the net worth sweep. FHFA is also facing a lawsuit tied to an untimely response to a FOIA request.
Trade groups representing credit unions pushed back against suggestions that the institutions are creating risks, and called for status quo on certain GSE policies post-conservatorship.
Michael Hutchins agrees to extend term at Freddie; new general counsel at Freddie; senator seeks answers on FHLBank reform efforts; former FHFA chief operating officer loses appeal.
Although FHFA Director Bill Pulte recently put the value of the GSEs at $1 trillion, most estimates are between $300 billion and $600 billion. Meanwhile, Commerce Secretary Howard Lutnick suggested that only a small portion of the GSEs will be sold via a stock offering.
Attorneys representing those accused of mortgage fraud by FHFA Director Bill Pulte are calling for an investigation into what they say is abuse of his office.
According to experts, there are still many impediments to implementing the new VantageScore 4.0 credit score. And some claim the new score is no better than the existing Classic FICO.
Stress tests show that, even under scenarios considerably worse that the 2008 financial crisis, Fannie Mae and Freddie Mac would likely remain profitable and continue to support the mortgage market.
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