An audit by FHFA’s Office of Inspector General found that the agency’s Office of Housing and Regulatory Policy hasn’t conducted adequate oversight of the new reports.
The vast amount of appraisal data released over the past year by FHFA has been a boon to researchers. However, many critics argue the regulator and the regulated entities should release all appraisal data.
A proposed new rule expanding the GSEs’ ability to purchase loans on properties with private transfer fee covenants should encourage more engagement in shared-equity programs.
The regulator’s new rating system will be used to assess supervisory remediation measures and, at least while the GSEs remain in conservatorship, determine executive compensation.
FHFA is showing that it’s willing to listen to industry feedback as the regulator works to transition the GSEs to new credit scoring processes. This week the agency delayed one aspect of the transition and noted plans to conduct listening sessions.
The mortgage industry generally supports the limited scope of the rule. But consumer advocates believe FIRREA calls for a broader scope, including AVMs used by licensed appraisers.