FHFA Director Bill Pulte says his agency is currently reviewing a potential deal with Fair Isaac to allow lenders to use the more inclusive FICO Score 10 T when submitting loans to Fannie Mae and Freddie Mac. Continue reading
The Trump administration says it’s also looking at assumable mortgages and “ways to give relief” on 5- and 10-year mortgages, after mortgage and financial planning experts pan 50-year mortgages as a bad deal for homebuyers. Continue reading
FHFA Director Bill Pulte ordered the mortgage giants to start using more inclusive VantageScore 4.0 in July. But adoption is a “complex, technical and arcane” process that could drag into next year. Continue reading
FHFA acting Inspector General John “Joe” Allen is set to be fired, Reuters reports, and the position is now vacant as the mortgage giants move toward a public offering. Continue reading
A coalition of groups has warned that the Trump administration’s goals for the mortgage giants will leave up to 177,000 lower income homebuyers looking elsewhere for a loan. Continue reading
In her first public speech since President Trump’s attempt to remove her, the economist said she expects a “one-time increase” in prices, with inflation trending back down toward the 2 percent target once “the effects are behind us.” Continue reading
Fannie and Freddie will want government employees to show they have reserves, and some homeowners are now outside 30-day grace period for National Flood Insurance Program renewals. Continue reading
A dozen officials in Fannie Mae’s ethics and internal investigations unit were among 62 people fired on Thursday, “The Wall Street Journal” reports, citing anonymous sources. Continue reading
For the real estate and mortgage industries, it remains to be seen how the new course the Trump administration has set for Fannie and Freddie will impact homebuyers. Continue reading
The time is now to use existing artificial intelligence to your advantage, Kevin Hawkins writes in his new book. “You don’t have to worry about AI replacing you. You have to worry about agents using AI replacing you.” Continue reading