FHFA issues annual report on activities supporting low-income housing

The CFPB is proposing to remove disparate impact from its enforcement of the Equal Credit Opportunity Act, clarify the prohibition on discouraging prospective applicants, and establish new limits on special-purpose credit programs offered by lenders.

Mortgage lenders have come to recognize that the more educated their customers are about the details of their mortgage products, the more loyal and lucrative their relationships become, according to a J.D. Power survey.

The Federal Housing Finance Agency is currently reviewing a possible deal with FICO to implement the FICO 10T credit scoring model for mortgages, according to a post on X by FHFA Director Bill Pulte.

Homebuilders continue to face weak demand despite offering attractive mortgage rates, indicating that lower interest rates alone won’t revive the housing market.

The rate for a 30-year fixed-rate mortgage was 6.22% this week, up from 6.17% last week. The rate for a 15-year fixed-rate mortgage was 5.50%, up from 5.41% last week.

ABA submitted a list of banker recommendations for the FHFA to include in its proposed strategic plan, including suggestions concerning supervision of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.