Fannie and Freddie both issued sellers guide updates alerting lenders to upcoming changes to UAD 3.6 and URAR. Other updates affect quality control procedures, measurement standards and attorney fees.
In a random sample of loans, Fannie found that undocumented rental income was the most common initial loan defect. Among loans more likely to have defects, “undisclosed liabilities” jumped to the top of the list.
In keeping with the rest of the Trump administration, FHFA has significantly reduced public visibility into its policy and actions since Bill Pulte took over as the agency’s director.
The names of most of the members of the leadership team responsible for the activities covered in the report are no longer listed among the agency’s key management officials.
A paper that found that lenders originate more conventional-conforming loans in areas impacted by a hurricane, and they securitize a larger percentage of those loans, was recently retracted.
In states with data privacy laws, the mortgage-denial gap between minority and non-minority mortgage borrowers is 3% lower than in states without the privacy laws, according to researchers.
New studies show that the expectation of future climate risk effects the current behavior of lenders and CRT can be used to estimate the true cost of hurricane risk.
The Mortgage Bankers Association has suggested the FHFA end its tri-merge process, replacing it with a single credit report rather than the bi-merge model as currently planned.