Housing Wire

NOVEMBER 6, 2023

Nearly 50 interviews from staff members in the federal government, financial technology companies, mortgage lenders and consumer advocates found that the ability of AI to improve racial equity can be undermined by the data used to train the algorithm, not just by the algorithm itself.

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Housing Wire

SEPTEMBER 1, 2023

The Federal Housing Finance Agency (FHFA) is considering giving more financial firms, including nonbank mortgage lenders, access to the $1.4 Any expansion would require congressional actions and would need firms to agree to more government oversight, the outlet reported. FHLBs – 11 U.S.

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Housing Wire

OCTOBER 2, 2023

Rocket Pro TPO , the wholesale arm of Rocket Mortgage , on Monday raised agency conforming loan limits to $750,000, ahead of the Federal Housing Finance Agency’s (FHFA) decision expected in November. Companies are pressured to launch new initiatives to attract brokers and land more purchase businesses due to high mortgage rates.

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Housing Wire

APRIL 17, 2024

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 single-family, closed-end second mortgages. This is specifically designed to benefit consumers during the high rate environment, the agency said. “In

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Housing Wire

MARCH 13, 2023

While the FDIC — an independent government agency that insures bank deposits and overseas financial institutions — declined to comment on Mayopoulos’ role, his career has been focused on financial and legal expertise. Treasury and introducing new technologies to the housing finance system.

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Housing Wire

AUGUST 15, 2023

The Housing Policy Council (HPC) is urging the Federal Housing Finance Agency (FHFA) to modify its proposed government-sponsored enterprises (GSEs) single-family pricing framework, including coordination with banking regulators to streamline capital requirements and retention of upfront guarantee fees.

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Housing Wire

JUNE 1, 2023

Six federal agencies have requested comment from the public on a newly-proposed rule that is designed to “ensure the credibility and integrity of models used in real estate valuations.” And the design and development of the models and algorithms can reflect the biases and blind spots of the developers.”

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Housing Wire

MAY 14, 2024

Rubio was referring to the Federal Housing Administration (FHA), which sponsors government home lending programs. But Rubio did not mention other programs announced by HUD designed to encourage the construction of additional supply, including $5.5 million new housing units are under construction nationwide right now because of it.”

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Housing Wire

MAY 16, 2024

UWM’s TRAC+ announcement comes as the federal government pushes title insurance alternatives designed to save consumers money. Department of Veteran Affairs (V.A.) loans but only for refinances. 0% down During UWM Live!

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Housing Wire

MARCH 13, 2024

Speaking to HousingWire last year, Rocket Pro TPO executive vice president Mike Fawaz said the company’s Fee Freedom initiative is designed to give the broker community “tools” to drum up business. Regulators are moving to address credit report cost issues. credit score models by Fannie Mae and Freddie Mac.

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Housing Wire

MARCH 28, 2024

While the arms of the federal government aim to address certain housing policy challenges, different localities across the country are also working to address them in their own backyards. Even in California and Oregon, whose governments are both dominated by Democrats, Republican votes have helped pass housing bills.”

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Housing Wire

JULY 14, 2023

The National Association of Mortgage Brokers (NAMB) announced this week that it supports new federal regulatory proposals governing the use of automated valuation models (AVMs) in determining property values for mortgage originators and secondary market issuers.

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Housing Wire

MARCH 1, 2023

Change in uninsured losses As of late, however, the uninsured losses are being absorbed by other stakeholders in the housing finance system, including mortgage lenders, mortgage servicers, private mortgage insurers, government agencies, capital markets investors, and the government-sponsored enterprises.

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Housing Wire

JANUARY 24, 2024

Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac announced this week the release of their “Mission Index,” updating or expanding their single-family social bond framework to better communicate the goals of the index to stakeholders and investors. The GSEs issued separate announcements and a joint statement. housing.”

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Housing Wire

OCTOBER 18, 2021

Forbearance declined across the board this week as government agencies and industry stakeholders chart a path out of forbearance and into loss-mitigation. The forbearance rate for loans not backed by the government, either because they are held in portfolio or are private-label securities, also declined by 108 basis points to 5.34%.

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Housing Wire

NOVEMBER 10, 2022

The Federal Housing Finance Agency (FHFA) announced on Thursday that the 2023 multifamily loan purchase caps for Fannie Mae and the Freddie Mac will be $75 billion for each government-sponsored enterprise (GSE), for a combined total of $150 billion to support the multifamily market, according to an announcement from the FHFA.

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Housing Wire

NOVEMBER 21, 2022

In particular, we highlight the partnership between CoreLogic, the Mortgage Bankers Association (MBA), the state housing finance agencies of Tennessee and Ohio, municipal housing leaders and other local stakeholders who are also committed to solving this challenge at the “grass-roots” level. and Columbus, Ohio.

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Housing Wire

OCTOBER 5, 2023

Industry-leading lender Movement Mortgage will become an “early adopter” of FICO Score 10 T, the updated credit scoring model designed to take advantage of trended data information to help expand mortgage approval rates. a competing model that also incorporates trended credit bureau data.

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Housing Wire

SEPTEMBER 27, 2023

Government-sponsored enterprise (GSE) Fannie Mae announced on Wednesday that it will launch new programs and resources designed to tackle the homeownership gap experienced by the Latino community , designed to “to provide responsible access to housing and long-term sustainable homeownership opportunities.”

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Housing Wire

MARCH 10, 2023

California-based Impac Mortgage Holdings is repositioning itself as a mortgage brokerage and voluntarily giving up its seller-servicer designation with Fannie Mae and Freddie Mac. Impac, whose stock is under threat of being de-listed on the New York Stock Exchange , expects to be a third-party originator to support its broker model as needed.

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Appraisal Buzz

MAY 6, 2024

Add to this rising replacement costs and legal fees, increased government regulation, inflation, and fraud, and companies are bleeding about a billion dollars every three weeks. I recently attended the Going to Extremes conference in DC on April 18-19, which focused on how climate change is affecting the US housing and finance industries.

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Housing Wire

JUNE 16, 2022

Fannie Mae and Freddie Mac plan to charge a new 50 basis-point fee for certain structured-finance offerings that use co-mingled agency securities as the underlying collateral. . The fee will apply to securities issued through structured-finance offerings known as Supers, and separately, real estate investment conduits (REMICs).

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Raleigh Realty

MARCH 29, 2021

Buying a Home As a Government Employee Are you a government employee preparing to buy a home? With the right resources, you can ensure a successful investment and one in which you may save tens of thousands of dollars thanks to being a government employee. Who Is a Government Employee?

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Appraiserblogs

MARCH 7, 2024

Mass Appraisal tend to exhibit a regressive nature… In the intricate landscape of real estate mortgage financing, the notion of appraisal waivers recently dubbed “Value Acceptance”, by the Government Sponsored Enterprises (GSEs), has stirred considerable debate. Despite its roots in a methodology designed to support appraisers, Value.

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Housing Wire

NOVEMBER 7, 2023

VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. Potter added: “Government lending would come to a halt. These clients are typically low on funds, which is why they need this type of financing.

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Housing Wire

AUGUST 22, 2023

On June 1 , six federal agencies requested comments from the public on a rule designed to ensure the credibility and integrity of models used in real estate valuations. The National Association of Mortgage Brokers (NAMB) said it supports new federal regulatory proposals governing the use of AVMs. the trade groups state.

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Housing Wire

MARCH 21, 2024

Warren Davidson (R-Ohio) The first indication of the Republican response to the president’s housing plan then became clear, as Davidson believes that the solution is not government spending that could drive inflation, saying that is “what got us into this mess in the first place.” Department of Veterans Affairs (VA),” the memorandum stated.

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Housing Wire

MAY 23, 2024

Freddie Mac ’s head of single-family acquisitions, Sonu Mittal , this week defended the government-sponsored enterprise’s proposal to acquire single-family, closed-end second mortgages amid opposition by trade groups that are worried about its impacts on the secondary market. “Six Six out of 10 borrowers are below a 4% mortgage rate.

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Housing Wire

MAY 12, 2023

In that decision, the presiding panel of judges ruled that the CFPB’s design violated the Constitution because it received funding from the Federal Reserve and not the appropriations legislation passed by Congress. CFPB , reached late last year. This led President Biden to seek the appointment of his own CFPB director after entering office.

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Housing Wire

MAY 27, 2022

The CFPB, a government watchdog agency, said lenders aren’t absolved from adverse action notice requirements under the Equal Credit Opportunity Act if they use complex algorithms, which Rohit Chopra, the director of the CFPB, has dubbed “black-box models.”. The requirement also applies to mortgage lenders, legal experts say.

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Housing Wire

OCTOBER 16, 2023

At a time when you desperately need stability, your own government is sowing the seeds of profound instability. The MBA, alongside several other trade groups, sent a letter to lawmakers and monetary policymakers that the government can do much more to help the housing industry while still fighting inflation. And we’re playing offense.”

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Housing Wire

FEBRUARY 27, 2023

The appeals court opted to reject the majority of the challenges made by the trade groups, but the panel ultimately determined that the CFPB’s design was violating the Constitution because it received funding from the Federal Reserve and not the appropriations legislation passed by Congress.

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Housing Wire

MAY 26, 2022

She allegedly created phony prepaid debit card statements designed to serve as records of the borrowers withdrawing the monthly child support payments. Based on Hernandez’s alleged misrepresentations, the financial institution approved and funded the mortgage loans, the government claims.

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Housing Wire

JULY 28, 2022

Treasury Department has issued new guidance empowering state, local and tribal governments to direct more of the funding appropriated under the American Rescue Plan Act of 2021 toward affordable-housing investments. billion for affordable-housing development and preservation.

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Housing Wire

MAY 15, 2024

Government-sponsored enterprise (GSE) Freddie Mac has put its finger on the scale of an emerging loan market that has been the domain of the private-label securities market, which has nurtured its reemergence in recent years. This provides homeowners with a cost-effective alternative for accessing the equity in their homes.”

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Housing Wire

JUNE 21, 2023

Earlier this month, that coalition of six federal agencies requested comment from the public on a newly-proposed rule that is designed to “ensure the credibility and integrity of models used in real estate valuations.” The Agencies expect to issue a proposed rule to implement the Dodd-Frank Act’s AVM amendments to FIRREA in June 2023.”

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Housing Wire

SEPTEMBER 17, 2021

Influential Congresswoman Maxine Waters has waded into the growing debate about who should lead the Federal Housing Finance Agency (FHFA). “Her understanding of Fannie Mae , Freddie Mac , and the Federal Home Loan Banks as government-sponsored enterprises (GSE) is undeniable. Appointed on June 23 as acting director, Ms.

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