MBA members have a long history of adjusting to regulatory changes. Our more than 2,100 member companies, representing the full range of lenders, loan servicers, and other stakeholders, share FHFA’s goal of a sound mortgage finance system. MBA is certain, however, that the LLPA based on DTI would not advance the GSEs’ mission but instead create complications and problems for borrowers and lenders alike.
Tag: Federal Housing Finance Agency
FHFA Issues Notice of Proposed Rulemaking on Fair Lending Oversight
The Federal Housing Finance Agency seeks comment on a proposed rule that would formalize many existing practices regarding fair housing and fair lending oversight of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
FHFA Announces Process for Implementing New Credit Score Requirements; MBA Encourages Members to Complete Survey
The Federal Housing Finance Agency recently requested stakeholder input as Fannie Mae and Freddie Mac 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 to requiring two credit reports for single-family loan acquisitions.
FHFA Final Rule Amends GSEs’ ‘Duty to Serve’ Regulation for ‘Colonias’
The Federal Housing Finance Agency on Apr. 12 published a final rule to amend the Duty to Serve Underserved Markets regulation for Fannie Mae and Freddie Mac. The final rule allows Fannie Mae and Freddie Mac’s activities in all colonia census tracts to be eligible for Duty to Serve credit.
FHFA Updates Equitable Housing Finance Plans for Fannie Mae, Freddie Mac
The Federal Housing Finance Agency updated Fannie Mae and Freddie Mac’s Equitable Housing Finance Plans for 2023.
Fannie Mae, Freddie Mac Complete 52,469 4Q Foreclosure Prevention Actions
Fannie Mae and Freddie Mac completed 52,469 foreclosure prevention actions during the fourth quarter, raising the total number of homeowners who have been helped to 6.7 million since September 2008, the Federal Housing Finance Agency reported.
FHFA Delays Effective Date of GSE DTI Ratio-Based Fee to Aug. 1
The Federal Housing Finance Agency on Wednesday said it would delay implementation of certain recalibrated upfront fees for Fannie Mae/Freddie Mac until Aug. 1.
#MBACREF23: Multifamily Leadership Perspectives
SAN DIEGO–Senior government executives visited the MBA Commercial/Multifamily Finance Convention & Expo 2023 to discuss their successes and challenges, including how to increase the national supply of affordable housing.
MBA Letter Voices Concerns Over FHFA DTI-Based LLPA
The Mortgage Bankers Association on Friday sent a letter to the Federal Housing Finance Agency expressing concerns regarding recently announced changes to loan-level price adjustments by Fannie Mae and Freddie Mac, particularly addition of an LLPA based on debt-to-income ratio.
GSEs Reduce Upfront Fee for Commingled Securities; FHFA Updates GSEs’ Single-Family Pricing Framework
Fannie Mae and Freddie Mac announced a reduction in the upfront fee for commingled securities to 9.375 basis points, effective April 1; additionally, the Federal Housing Finance Agency announced updates to the government-sponsored enterprises’ single-family pricing framework, effective May 1.