Tag Archives: Federal Housing Finance Agency (FHFA)

In a letter to the FHFA, a coalition of eight U.S. Senators are asking the Agency to implement reforms to credit scoring models that could impact access to creditworthy borrowers. Click through to read arguments from both sides of the issue.

"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 FHFA’s latest Foreclosure Prevention and Refinance Report for the second quarter found that, to date, more than 6.8 million struggling homeowners have been assisted by Fannie Mae and Freddie Mac during conservatorship.

The OCC has issued its findings on the performance of first-lien mortgages in the federal banking system during Q2, as 97.3% of mortgages were found current and performing at the end of the quarter, compared to 97.6% in Q1.

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.

Michael J. DeVito will move on from the role of CEO in the first quarter of 2024, as the GSE is set to begin its search for a successor to the position.

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.

As the nation continues to struggle with inflation and high mortgage rates, Fannie Mae and Freddie Mac completed more than 5,100 permanent loan modifications in May, according to the latest FHFA Foreclosure Prevention and Refinance Report.