FHFA

"Forbearance was an invaluable tool for borrowers experiencing financial hardship due to the COVID-19 pandemic," said FHFA Director Sandra L. Thompson. Here’s what the announced change means for the industry.

A new report from TransUnion explores FHFA’s proposal to utilize two instead of three credit reports, and the significant impact such a move would have on consumers, mortgage lenders, and the broader economy.

Between the non-performing loan sales program’s inception in 2014 and the end of 2022, the GSEs have sold off a collective $30 billion in loans to the private sector.

The Five Star Conference & Expo closed out with a lively discussion on the latest headwinds impacting the mortgage servicing space, featuring top mortgage servicing execs, economists, and government reps exchanging ideas on how to move the industry forward.

At the annual Five Star Conference in Dallas, the 30-year industry trailblazer was recognized for her accomplishments in the mortgage finance space throughout her career.

The Federal Housing Finance Agency has announced the acceptance of membership applications for its Advisory Committee on Affordable, Equitable, and Sustainable Housing to discuss a wide range of housing topics, including fair lending, fair housing, civil rights, single- and multifamily lending, and community advocacy.

FHFA is soliciting comments from market participants and stakeholders on the transition to updated credit scoring models and credit reporting requirements for loans acquired by the GSEs.

The share of mortgage loans in forbearance fell to 0.39% of servicers’ portfolio volume in July, as the MBA reported that nearly two-thirds of borrowers still in forbearance were due to the effects of COVID-19.

Multiple trade associations have responded to the FHFA’s Request for Input on the GSEs’ Single-Family Mortgage Pricing Framework through the promotion of responsible homeownership opportunities for all home-ready borrowers.

During a recent House Financial Services Subcommittee on Financial Institutions and Monetary Policy meeting, Greg Coleman of the Office of the Comptroller of the Currency noted that “the OCC’s role is to ensure that national banks and federal savings associations understand their climate-related financial risks and develop comprehensive risk management frameworks and capabilities to identify, measure, monitor and control those risks.”