Tag: MBA Advocacy Update

On Wednesday, the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will allow borrowers facing financial hardship to defer up to six months of mortgage payments.

On Thursday, the Federal Housing Finance Agency announced plans for stakeholder input as Fannie Mae and Freddie Mac work to replace the Classic FICO credit score model with the FICO 10T and the VantageScore 4.0 credit score models, and transition from requiring three credit reports (or “tri-merge”) to requiring two credit reports (or “bi-merge”) for single-family loan acquisitions.

On Thursday, the Federal Housing Finance Agency announced plans for stakeholder input as Fannie Mae and Freddie Mac work to replace the Classic FICO credit score model with the FICO 10T and the VantageScore 4.0 credit score models, and transition from requiring three credit reports (or “tri-merge”) to requiring two credit reports (or “bi-merge”) for single-family loan acquisitions.

On Wednesday, the Federal Housing Finance Agency announced a 90-day delay in the effective date of the new Loan Level Price Adjustments for certain borrowers with debt-to-income ratios above 40 percent. The new effective date will be for deliveries on or after August 1.

On Wednesday, the Federal Housing Finance Agency announced a 90-day delay in the effective date of the new Loan Level Price Adjustments for certain borrowers with debt-to-income ratios above 40 percent. The new effective date will be for deliveries on or after August 1.

On Wednesday, HUD announced a final rule increasing the maximum allowable term for Federal Housing Administration-insured loan modifications from 360 months to 480 months.

On Wednesday, HUD announced a final rule increasing the maximum allowable term for Federal Housing Administration-insured loan modifications from 360 months to 480 months.

The Supreme Court said it would consider the Consumer Financial Protection Bureau’s appeal of the Fifth Circuit Court of Appeals decision in CFSA v. CFPB – in connection to its Payday Lending Rule – over the constitutionality of the Bureau’s funding mechanism.