The FDIC released guidance today with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Rhode Island and Maine affected by severe storms and flooding. The agency encouraged banks in affected areas to work constructively with borrowers experiencing difficulties due to severe weather, including extending repayment terms, restructuring existing loans or easing terms for new loans. The agency also said it would consider relief from certain filing and publishing requirements.
HUD, FHFA roll out plans for new credit scoring in mortgages
HUD will adopt FICO 10T and VantageScore 4.0 for FHA loans. Fannie Mae and Freddie Mac will begin using VantageScore 4.0 immediately and the future use of FICO Score 10T credit scores for loans delivered to Fannie Mae.










