Mortgage

FHFA: Targeted Pricing Changes to Enterprise Pricing Framework Announced

The Federal Housing Finance Agency (FHFA) today announced targeted changes to Fannie Mae and Freddie Mac’s (the Enterprises) guarantee fee pricing by eliminating upfront fees for certain borrowers and affordable mortgage products, while implementing targeted increases to the upfront fees for most cash-out refinance loans. ​As part of the pricing changes stemming from the Agency’s…

FHFA: New Uniform Appraisal Dataset (UAD) Aggregate Statistic Data File Published

The Federal Housing Finance Agency (FHFA) today published its new Uniform Appraisal Dataset (UAD) Aggregate Statistics Data File. FHFA also launched UAD Aggregate Statistics Dashboards on its website to provide user-friendly visualizations of the newly available data. “As home valuations are a vital component of the mortgage process, publishing transparent, aggregate data on appraisals provides…

FHFA: Validation of FICO 10T and Vantage Score 4.0 Announced for Use by Fannie Mae and Freddie Mac

The Federal Housing Finance Agency (FHFA) today announced the validation and approval of both the FICO 10T credit score model and the VantageScore 4.0 credit score model for use by Fannie Mae and Freddie Mac (the Enterprises). “Today’s decision will benefit borrowers and the Enterprises, along with maintaining safety and soundness,” said FHFA Director Sandra…

HUD: FHA Proposes to Adjust Title I Manufactured Home Loan Program Loan Limits Annually

Consistent with the Biden-Harris Administration’s Housing Supply Action Plan, today’s proposed rule sets forth a methodology for regularly adjusting the limits on loans that finance manufactured homes titled as personal property. The Federal Housing Administration (FHA) is announcing today the publication of a proposed rule in the Federal Register to increase and index the loan limits for its Title…

CFPB: Threshold for Smaller Loan Exemption for Appraisal Requirements for Higher-Priced Mortgage Loans Announced for 2023

The Consumer Financial Protection Bureau, the Federal Reserve Board, and the Office of the Comptroller of the Currency today announced that the 2023 threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans will increase from $28,500 to $31,000. The threshold amount will be effective January 1, 2023, and is based on the…

HUD: FHA Takes New Step to Explore Increasing Availability of Small Balance Mortgages

Request for Information published today seeks industry input as a starting point to encourage greater origination of small balance mortgages for FHA insurance.  The Federal Housing Administration (FHA) is announcing today the publication of a Request for Information (RFI) in the Federal Register seeking input on ways it can facilitate increased access to smaller balance mortgages through its Single…

HUD and Census Bureau: New American Housing Survey Released

2021 Survey Provides Insights on Housing From the Height of the Pandemic In general, 2020 and 2021 were good for homeowners but presented challenges for many renters. That’s according to the new 2021 American Housing Survey released today by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. Every two…

HUD: Disaster Assistance Announced for Puerto Rico

The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance, including a new package of waivers offering regulatory and administrative relief, to supplement Commonwealth and local recovery efforts in areas of Puerto Rico affected by Hurricane Fiona beginning on September 17, 2022, and continuing. As Puerto Rico endures…

HUD: FHA Expands Access to Homeownership for First-Time Homebuyers Who Have Positive Rental History

Addition of positive rental payment history in TOTAL Mortgage Scorecard assessment criteria supports greater opportunity for first-time homebuyers to qualify for affordable FHA-insured mortgage financing. The Federal Housing Administration (FHA) is announcing today that it will begin to permit inclusion of a first-time homebuyer’s positive rental payment history as an additional factor in the credit assessment performed…

FHFA: Second Quarter 2022 Foreclosure Prevention and Refinance Report Released

More than 6.5 million troubled homeowners helped since conservatorship The Federal Housing Finance Agency (FHFA) today released its second quarter 2022 Foreclosure Prevention and Refinance Report​. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 96,945 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to…