Will allowing lenders to omit one of the three credit scores from the underwriting process reduce costs for borrowers or ensure that some unqualified borrowers inadvertently get a loan they can’t afford?
FHFA and HUD have teamed up to initiate a formal request for reconsideration of value for borrowers and sellers who believe their appraised value is undocumented or biased.
In an effort to reduce closing costs for low-income and first-time homebuyers, Freddie will now allow lenders to replace title insurance with attorney opinion letters in all but one state.
Even though the mortgage market continued to struggle, Fannie Mae and Freddie Mac generated healthy profits in the first quarter of 2023 thanks to their business models.
Risk management activities in Freddie's multifamily business generate $1 billion in revenues in the first quarter, more than doubling its 4Q23 figures.