U.S. Rep. Eric Swalwell (D-Calif.) has dropped a lawsuit that accused Federal Housing Finance Agency (FHFA) Director Bill Pulte of violating federal privacy laws. The parties agreed to the “dismissal of this action without prejudice, with each side bearing its own fees and costs,” according to court filings. The move means that Swalwell could refile […]
Rep. Swalwell drops privacy lawsuit against FHFA’s Pulte Read More »
The way that mortgage lenders assess credit risk is undergoing its biggest overhaul in decades as the Federal Housing Finance Agency (FHFA) is preparing to roll out a new framework that allows lenders to use two scoring models — FICO 10T and VantageScore 4.0. FHFA Director Bill Pulte and the Trump administration have voiced support
Mortgage credit model overhaul: FICO 10T and VantageScore 4.0 Read More »
Dozens of former Fannie Mae employees filed a lawsuit this week, alleging discrimination after being abruptly fired in April over donations made through the government-sponsored enterprise’s charitable program. The lawsuit, filed Monday in the U.S. District Court for the District of Columbia, claims that on April 2, more than 80 employees received an email from
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While the Federal Housing Finance Agency (FHFA) under President Joe Biden proposed a transition from a tri-merge to a bi-merge credit report system, the Mortgage Bankers Association (MBA) is now assessing the feasibility of moving to a single credit report for mortgage underwriting. Bob Broeksmit, president and CEO of the MBA, wrote in a blog
MBA, FHFA explore single credit report for mortgages Read More »