Twenty congressmen, including nine Republicans, are urging the Federal Reserve Board to collect more Home Mortgage Disclosure Act data, such as credit scores and loan-to-value ratios, to determine whether subprime lenders are treating borrowers fairly.In a letter to the Fed, the congressmen note that the Fed has improved its data collection and that the release of the aggregated 2004 HMDA data this September should provide a "better understanding" of whether unfair disparities exist in the subprime market. "At the same time, we are aware that the data provided under the HMDA, despite recent enhancements, may still be inadequate for analysis of how borrower risk and choice influence prices or whether low-income and minority borrowers are treated equitably," the letter says. Additional information, such as LTV and debt-to-income ratios, is "vital for understanding if there are elements of unlawful discrimination in the subprime market," it says.
-
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
8h ago -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
8h ago -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18