The unique approach Fannie Mae and Freddie Mac are each taking with their credit-risk transfer products is quickly becoming a key point of differentiation that's rekindling competition between the government-sponsored enterprises.
When the mortgage giant will be released from government control is anyone's guess, but the company's third-quarter report shows signs of an easier transition.
In a move designed to improve access to financial products for consumers with low credit scores and short credit histories, Experian, FICO and Finicity are developing an "UltraFICO" score that lets individuals share checking and savings account data and help lenders better assess risk.
Donald Layton, who has run the mortgage giant since 2012, discussed the busy agenda leading up to his departure and says Freddie can serve as a "technical adviser" in GSE reform talks.
The Federal Housing Finance Agency, Fannie Mae and Freddie Mac have launched an online clearinghouse with resources to assist lenders in serving borrowers with limited English proficiency.
The legislative highlights of his career as House Financial Services Committee chairman were bills too extreme to become law. But the retiring lawmaker says they were still worth pursuing.
Fannie Mae has appointed Hugh Frater, a member of its board of directors, to serve as its interim chief executive officer after Timothy Mayopoulos steps down next week, the company said in a statement on Monday.
