The Trump administration is ramping up discussions regarding reforms to the government-sponsored enterprises but it’s still not clear what the result will be. Whether Congress will take action is also an open question.
Even as loan deliveries to Fannie Mae and Freddie Mac increase, the two entities continue to lose business to Ginnie Mae issuers. (Includes two data tables.)
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.
Borrowers have a right to request a reconsideration of value if they feel an error has been made by the appraiser. But it’s not an open-ended process; they can only initiate one ROV for each appraisal report.
An Ohio court found that Freddie’s rosy statements in 2007 about its exposure to subprime and Alt A loans weren’t misleading, in part, because there was no universal definition of those terms at the time.