“[The Trump administration’s] position is wrong as a statutory interpretation and is at odds with Congress’ plan in setting up the [CFPB],” according to an amicus brief filed by Democrats.

The MBA said FHFA should allow lenders to use a single credit report when delivering mortgages to the GSEs if the initial report shows that the borrower has a credit score of 700 or higher.

Fannie recently considered strengthening its net worth requirements for large nonbank issuers.