By KIMBERLEY HAAS The U.S. House of Representatives has passed the Middle-Class Borrower Protection Act which would reverse recent changes to fees charged by Fannie Mae and Freddie Mac. Republicans have been fighting changes to the loan-level price adjustment matrix which were announced earlier this year and scheduled to go into effect on May 1….
By KIMBERLEY HAAS Changes to fees for loans backed by Fannie Mae and Freddie Mac continue to be a hot topic as Republicans push to repeal them. The changes to the loan-level price adjustment matrix by officials at the Federal Housing Finance Agency went into effect on May 1 and critics are opposed to the notion…
The Federal Housing Finance Agency has rescinded a rule changing upfront fees based on borrowers’ debt-to-income ratios. If it had gone through, the policy would have created an adjustment for DTIs higher than 40% that Fannie Mae and Freddie Mac would acquire. Back in March, the agency delayed the implementation of these fees to talk…
By CHUCK GREEN Industry leaders and economists are sharing their opinions about changes to fees for loans backed by Fannie Mae and Freddie Mac after reports that homebuyers with good credit scores and substantial down payments will pay more so fees for borrowers limited by income or wealth can be reduced. The changes to the…
By KIMBERLEY HAAS Changes to fees for loans backed by Fannie Mae and Freddie Mac are under scrutiny after recent reports that homebuyers with good credit scores and substantial down payments will pay more starting May 1. Last week, The Washington Times published an article with the headline “Biden to hike payments for good-credit homebuyers…
The Federal Housing Finance Agency has made significant changes meant to improve lending access to low-income and first-time homebuyers. At the Mortgage Bankers Association’s 2022 Annual Convention & Expo, FHFA Director Sandra L. Thompson announced that the agency had validated and approved the FICO 10T credit score model and the VantageScore 4.0 credit score model…
The Community Home Lenders Association (CHLA) sent a letter to FHFA Acting Director Sandra Thompson asking for adjustments to upcoming Fannie Mae and Freddie Mac fee increases. On January 5, the Federal Housing Finance Agency (FHFA) announced “targeted increases” on upfront fees for certain high balance loans and second home loans, to go into effect…
Good Morning! Today is Wednesday, December 15. Congress passed a measure raising the government’s borrowing limit by $2.5 trillion. Mr. Trump lost his bid to shield his tax returns from the House Ways and Means Committee after a federal judge dismissed the case. Britain’s antitrust regulator said Apple and Google hold a “vise-like grip” over how people use mobile…
President Biden will nominate Sandra Thompson to become the permanent director of the Federal Housing Finance Agency (FHFA), the White House announced in a statement on Tuesday. Thompson is the current acting head of the FHFA, having taken over the position in June when Biden replaced Mark Calabria. She would serve a five-year term after…
End of content
End of content
Before You Go, Get the Latest News and UPDATES!
Stay Tuned!