Fannie Mae: Prohibited/subjective language in appraisal reports has declined
Fannie Mae this month issued a recent progress report on its ongoing effort to scan appraisal reports for “prohibited or subjective language,” updating stakeholders on a process that began in 2021 to...
View ArticleCFPB considers ban on charging buyers for lender’s title policy
The Consumer Financial Protection Bureau is considering a ban on mortgage banks charging homebuyers for the lender’s title insurance policy, according to a report by Bloomberg. Lender’s title policies...
View ArticleState financial regulators and FHFA enter mortgage information sharing agreement
The Conference of State Bank Supervisors (CSBS) and the Federal Housing Finance Agency (FHFA) have signed onto a memorandum of understanding to formally share information between each other related to...
View ArticleRace-based appraisal gaps have narrowed in recent years: FHFA
The Federal Housing Finance Agency (FHFA) this week published a blog illustrating that appraisal gaps between white, Hispanic/Latino and Black households have diminished since the 2022 announcement of...
View ArticleJamie Dimon calls for “mortgage regulatory simplification”
Jamie Dimon evidently believes in the KISS principle when it comes to mortgage — keep it simple, stupid. In his annual letter to shareholders, the influential head of JPMorgan Chase wrote that “we can...
View ArticleProposal would allow Freddie Mac to acquire closed-end second mortgages
The Federal Housing Finance Agency (FHFA) this week announced a new product proposal for government-sponsored enterprise (GSE) Freddie Mac that would allow the agency to purchase certain...
View ArticleFHFA annual report highlights GSE actions on affordable housing
The Federal Housing Finance Agency (FHFA) this week released its annual Housing Mission Report, offering insights into the actions the agency took in 2023 on a host of issues. These include oversight...
View ArticleNAR, MBA ask for clarification on underwriting rules
The National Association of Realtors (NAR) and the Mortgage Bankers Association (MBA) are asking federal housing officials to confirm their treatment of interested party contributions (IPCs) to home...
View ArticleRepublicans look to codify tri-merge credit model into law
Rep. Scott Fitzgerald (R-Wis.) has introduced a bill to the U.S. House of Representatives that would codify the “tri-merge” credit model into law, a rebuke to the Federal Housing Finance Agency...
View ArticleGSEs will not count buyer agent commissions in cap on seller concessions
Fannie Mae and Freddie Mac will not count buyer’s agent commissions as part of their allowable interested party contributions (IPCs), according to announcements from the government-sponsored...
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