Tag Archives: regulations

NAR settlement may disrupt mortgage partner agent programs

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If homebuyers are no longer willing to pay full commissions, what happens to lender programs that incentivize consumers to work with partner real estate agents? Continue reading →

Housing Secretary Marcia Fudge stepping down March 22

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The surprise announcement comes as the Biden administration rolls out a $7.3 trillion budget proposal that would provide $258 billion to expand access to affordable housing. Continue reading →

Biden’s relaxed new Freddie, Fannie refi requirements irk title industry

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In a pilot program announced last week, the Biden administration cleared the way for Fannie Mae and Freddie Mac to let some homeowners refinance mortgages without paying for title insurance. Continue reading →

New rules for scoring mortgage borrowers coming in Q4 2025

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Fannie and Freddie’s federal regulator wants lenders to synchronize adoption of bi-merge credit reporting with more inclusive FICO Score 10T and VantageScore 4.0 scoring models. Continue reading →

Strength in home prices helped boost Fannie, Freddie 2023 profits

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With a combined net worth of $125 billion after earnings this week, the mortgage giants remain on a path that could lead to eventual release from government conservatorship if political winds shift. Continue reading →

New credit scores from FICO, VantageScore gaining traction

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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 →

Flagstar mortgages could help NYCB shore up its balance sheet

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Troubled New York Community Bancorp is reportedly ready to pledge about $5 billion in home loans originated by Flagstar Bank as collateral for risk transfer that would bolster its capital. Continue reading →

Treasury releases proposed rule for reporting all-cash luxe sales

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Real estate professionals who handle closings and settlements will be required to report information to the Treasury’s Financial Crimes Enforcement Network when an all-cash residential sale is made to shell companies, legal entities and trusts. Continue reading →

FNB of Pennsylvania to pay $13.5M to settle redlining allegations

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FNB’s 2017 acquisition of Yadkin Bank for $1.8 billion expanded its footprint into North Carolina, where the DOJ alleges it avoided providing mortgages to majority-Black and Hispanic communities. Continue reading →

Patriot Bank denies DoJ redlining allegations, settles for $1.9M

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Government alleges competitors in Patriot’s peer group made home loans in minority areas of Memphis at almost three times the rate of Patriot from 2015 to at least 2020. Continue reading →