Lenders won’t be required to use the more inclusive FICO Score 10T and VantageScore 4.0 scoring models before next year, but several are already using them to expand the pool of borrowers. Continue reading
Fannie Mae and Freddie Mac are offering a $2,500 credit that borrowers can put toward their down payment, closing costs, escrow or mortgage insurance premiums. Continue reading
The former FHA commissioner also held executive positions at World Savings Bank, Freddie Mac, and The Long and Foster Companies before leading the Mortgage Bankers Association. Continue reading
Surge in Q3 home price appreciation pushes conforming loan limit in high-cost markets to $1,149,825 for one-unit properties, and up to $2,211,600 for four-unit properties. Continue reading
Company puts heat on regulators to stick to 2025 timetable for requiring lenders to use VantageScore 4.0 to evaluate borrowers, saying delays could impact “creditworthy people of color.” Continue reading
Policy change is intended to help more first-time homebuyers, seniors, and inter-generational families tap the wealth building potential of homeownership. Continue reading
The plan to move to a bi-merge process allowing lenders to use two, instead of three, credit reports was announced last October by Fannie and Freddie’s federal regulator. Continue reading
Following Rocket’s lead, UWM and Guaranteed Rate say they’ll price mortgages of up to $750,000 as if they’re eligible for purchase by Fannie Mae and Freddie Mac in anticipation of expected 2024 increases. Continue reading
Economists are scratching their heads and housing industry leaders are venting their frustrations as mortgage rates continue a relentless climb to new heights not seen in more than two decades. Continue reading
The move could help qualifying borrowers avoid taking out a jumbo mortgage at a higher rate as Rocket gets a jump on an expected increase in Fannie Mae and Freddie Mac’s 2024 loan limits. Continue reading