National Mortgage News, Oct. 26, 2022–Bonnie Sinnock (subscription)Mortgage experts generally expect government-related investors’ plan to replace FICO’s “classic” score with newer ones — and more flexible credit reporting — could …
Category: Top National News
Smaller Shops Want FHFA’s Help on Tech Fees
Inside Mortgage Finance, Oct. 26, 2022–Brandon IveyCommunity lenders want the Federal Housing Finance Agency to step in and prohibit certain fees technology vendors are charging residential originators.https://www.insidemortgagefinance.com/articles/226060-smaller-shops-want-fhfas-help-on-tech-fees?v=preview
Matt Rocco, New MBA Chair, Emphasizes Affordable Rental Housing Focus
HousingWire, Oct. 25, 2022–James KleimannOn stage in Nashville on Monday, Mortgage Bankers Association Chairwoman Kristy Fercho passed the torch to Matt Rocco, who will take over as chairman in 2023. …
MBA Chief Takes Aim at Regulators, Blames Them for Increasing Costs
Inside Mortgage Finance, Oct. 25, 2022–Sam Manas (subscription)Regulators are keeping banks from fully participating in the mortgage market, and in turn increasing origination costs, according to Robert Broeksmit, CMB, president …
FHFA Updates GSE Loan Pricing, Slashing Certain Upfront Fees
Bob Broeksmit, president and CEO of the Mortgage Bankers Association (MBA), said that the pricing adjustments are “well-timed” given the ongoing affordability challenges facing homebuyers.https://www.mpamag.com/us/news/general/fhfa-updates-gse-loan-pricing-slashing-certain-upfront-fees/425131
MBA’s President Calls CFPB’s Director Out for Regulatory Overreach
National Mortgage News, Oct. 25, 2022–Maria Volkova (subscription)The Mortgage Bankers Association’s President Bob Broeksmit took aim at the Consumer Financial Protection Bureau on Monday, calling its independent directorship a key …
GSEs Focus on Increased Affordability Efforts, Risk Concerns
National Mortgage News, Oct. 25, 2022–Spencer Lee (subscription)Affordability initiatives, including special-purpose credit programs, and risk management are at the forefront of both government-sponsored enterprises’ priorities as the year ends, leaders …
Fannie Mae: FGMC Taking ‘License’ With Asset Sale
National Mortgage Professional, Oct. 25, 2022–David KrechevskyYou can’t sell what doesn’t exist. That’s the argument Fannie Mae has made to a federal bankruptcy court judge in Delaware as part of …
Housing Market Crash? Here’s How Much Prices Have Gone Down
Deseret News (Utah) Oct. 25, 2022–Katie McKellar (part of a series)Since the onset of the Federal Reserve’s fight with inflation, which has pushed mortgage rates to 20-year highs, the impact …
Wells Fargo’s CEO of Mortgage Kristy Fercho on Equity in Housing
National Mortgage News, Oct. 24, 2022 (subscription)American Banker’s Most Powerful Woman in Banking, who is also wrapping a year’s service as the Mortgage Bankers Association’s first Black chairwoman, discusses closing …