Tag Archives: Freddie Mac

Fannie Mae and Freddie Mac recently made headlines when congress members said that the GSEs had a monopoly on their credit scoring system due to their singular use of the FICO score.

The Federal Housing Finance Agency (FHFA)’s 7-year-old conservatorship of Fannie Mae and Freddie Mac will continue for at least another year despite the fact that it was meant to be temporary.

The proposed regulation will require the GSEs to serve three underserved markets including manufactured housing, affordable housing preservation, and rural markets.

Freddie Mac sellers/servicers brace yourself for some significant changes regarding the way that they you do business in the coming year.

The ABA operates as the voice of the nation's $16 trillion banking industry, which is made up of regional and large banks. These banks hold a total of $11 trillion in deposits and extend nearly $8 trillion in loans.

As of now, Fannie Mae and Freddie Mac only consider the FICO credit scoring model when making mortgage purchase decisions.

Just as servicers were adjusting to the lowest ever standard mortgage modification interest rate established in November by Fannie Mae and Freddie Mac, the GSEs opted to raise it back up.

Eight of the nine voting members on the Financial Stability Oversight Committee will testify Tuesday before the House Financial Services Committee, and over at The Hill, the argument is made that GSE reform has to run through FSOC. The Hill looks at the gauntlet ahead.

Now that the news has had a bit of time to marinate, some within the housing industry reacted by taking up alliances with lobbyist, while others went the opposite direction and questioned these higher-ups' motives.

At the forefront of that charge is a group of high-level industry professionals that has moved back and forth between the public and private sectors since the housing crisis in 2008. Is a conflict of interest brewing?