News Topic: Underwriting
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FHFA will report appraisal bias cases to state licensing authorities
FHFA will require preapproval for new Fannie Mae, Freddie Mac products
Senate passes legislation to modernize VA appraisals
Credit score prices to rise as much as 400% in 2023
FHA's capital ratio increase prompts more calls for a premium cut
Comp selection is at the heart of appraisal bias, advocacy groups claim
The USDA's outdated underwriting system is hobbling rural lending
Freddie Mac automating rent-based underwriting for single-family loans
Bank of America settles fair housing discrimination claim
Go beyond rent payment history to promote homeownership
Fannie Mae to include rent payments in underwriting
FHA eases path to homeownership for borrowers with student debt
What could be in store for banks after Biden climate change order
CFPB throws mortgage market another curveball
Some applaud the agency's recent delay of the mandatory compliance date for a new Qualified Mortgage standard. Others say it leads to more uncertainty for lenders, opens the door to additional changes and enables some companies to loosen their ... Read full article
CFPB finalizes overhaul of mortgage underwriting rules
The consumer bureau's revamp of criteria for "qualified mortgages," a special regulatory class of loans free from liability, emphasizes pricing instead of a borrower's debt-to-income ratio. ... Read full article
Banks tighten standards on consumer, commercial loans
Demand trends were mixed in the third quarter, with consumers showing more willingness than businesses to take on new debt, according to the Fed’s most recent survey on bank lending practices. ... Read full article
GSE exemption to stay in place until underwriting rule finished: CFPB
The agency confirmed that loans backed by Fannie Mae and Freddie Mac can continue avoiding debt-to-income limits as the bureau completes a revamp of the Qualified Mortgage standard. ... Read full article
CFPB reverses course on marketing services agreements
The agency had raised concerns in the Obama administration about kickbacks in the marketing pacts between mortgage lenders and other providers, but the agency's recent guidance says the deals are legally viable. ... Read full article
Will CFPB's QM proposal create new housing bubble?
The Consumer Financial Protection Bureau's overhaul of its Qualified Mortgage standard is alarming free-market advocates who say it will precipitate a return to easy credit and higher defaults and could disproportionately harm minorities. ... Read full article