Loan-level price adjustments for low-income and first-time borrowers and for loans that meet duty-to-serve requirements will be a thing of the past on Dec. 2.
The new social index methodology gives investors a rigorous, pool-based measure of the social impact of the mortgage-backed securities issued by the enterprises.
By some estimates, the enterprises will have to increase guarantee fees by about 3 basis points to offset the lost revenue from FHFA's targeted elimination of LLPAs.
Currently head of Enterprise Community Partners, Priscilla Almodovar will become the first Latina to head either of the government-sponsored enterprises.
The regulator proposed a more standard, nationwide definition of “colonia” to make it easier for the enterprises and lenders to identify communities where their activities are eligible for credit under DTS.