Freddie Mac

Now that the Consumer Financial Protection Bureau says it will scrap an unpopular standard for so-called qualified mortgages, the big question is what will take its place.

The regulator said the investment bank and financial services company will help in the process of strengthening Fannie Mae and Freddie Mac’s capital standing for their eventual exit from conservatorship.

Mortgage rates continued sliding this week as investors put money into safer assets like bonds, contributing to the 30-year fixed-rate mortgage dropping 9 basis points, according to Freddie Mac.

FICO plans to release a new suite of scores that could reduce defaults on newly originated mortgages by 17%, but home lenders may not use it unless the government-sponsored enterprises do.

Mortgage rates fell to their lowest level in three months, possibly because investors became nervous following the spread of a coronavirus in China and elsewhere.

Trade associations representing mortgage lenders and securities market participants are asking the Federal Housing Finance Agency to rethink a plan to restrict pooling options for loans sold into uniform mortgage-backed securities.

The agency is sending a strong message that it won't rush to end an exemption for Fannie Mae and Freddie Mac while also signaling longer-term changes that will affect all lenders.

Director Kathy Kraninger has told lawmakers that the agency will delay the expiration of the so-called QM patch, now set for January 2021.

Mortgage rates for the most part were stable this past week as the markets looked warily at economic and geopolitical events, according to Freddie Mac.

Fannie Mae is sponsoring a $1.03B CRT transaction, while Caliber Homes Loans, New Residential and Onslow Bay fill the non-QM pipeline