Despite 15 months of balance sheet reduction, at the current pace, it will still take the Federal Reserve nearly four and a half years to bring its holdings of MBS and Treasuries down to pre-pandemic levels.
A new study shows that the shift from the tri-merge to a bi-merge credit report will have a minimal effect on the average borrower’s credit score, at least using Classic FICO.
Rocket Mortgage was the top GSE seller in the direct channels in 23 states in the first six months of 2023. United Wholesale Mortgage was the leader in 12 states.
Trade groups representing lenders noted that mortgage originators typically have no control over AVM providers and have no way to assess the goals, design or data inputs that go into the models.
Researchers found that banks with large municipal bond holdings divert their mortgage business to geographically distant areas in an effort to mitigate exposure to trends in home price appreciation.
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.
Since it was established last year, FHFA’s Climate Change and ESG Steering Committee has established eight working groups in an effort to improve the GSEs’ ability to calculate climate risks.
An OIG audit found that eight of the 27 senior officials who left FHFA during the review period did not receive required records management training during offboarding.