The $1.2 trillion funding bill passed by the House Friday averts a partial government shutdown and extends a critical insurance program that protects 4.7 million homes through the end of September. Continue reading
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
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
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
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
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
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
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
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’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