Fair Lending Shake-Ups: CFPB Vacates Townstone Settlement, FHFA Ends GSEs' Special Purpose Credit Programs — The Consumer Finance Podcast
Weekly Brief: BoA Sued; SCOTUS Shortlists; Fund Fights Argentina
In social media posts this week, President Trump announced major policy shifts aimed at improving housing affordability. In the first post on Jan. 7, the president stated that he is “immediately taking steps to ban large...more
On January 2, the U.S. Court of Appeals for the Ninth Circuit upheld the constitutionality of the FHFA’s funding mechanism, affirming the dismissal of a lawsuit that challenged the agency’s authority under the Appropriations...more
On November 24, the FHFA announced that the multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) in 2026 will be $88 billion each, totaling $176 billion. The announcement stated that, in 2025, at...more
On November 25, the FHFA announced that the baseline conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2026 will rise to $832,750, up from $806,500 in 2025. ...more
The Federal Housing Finance Agency (FHFA) recently announced the conforming loan limits for residential mortgage loans acquired by Fannie Mae and Freddie Mac in 2026. Fannie Mae addresses the limits in Lender Letter 2025-04....more
On November 5, Fannie Mae announced updates to its Selling Guide, including the removal of minimum credit score requirements for loans underwritten through its automated system —“Desktop Underwriter” (DU) — effective for loan...more
On October 30, the FHFA announced it released its annual housing report describing affordable housing activities in 2024 for the government-sponsored enterprises (GSEs). The agency found that, in 2024, Freddie Mac met all its...more
On October 2, the FHFA released a notice of proposed rulemaking (NPRM) setting new single-family and multifamily housing goals for Fannie Mae and Freddie Mac (the GSEs) for 2026 through 2028. The proposed rule would introduce...more
On October 9, Secretary of the Treasury Scott Bessent delivered remarks at a community bank conference noting the administration’s strategies to promote community banking and financial regulation. Bessent outlined how the...more
On October 2, the FHFA issued a notice of proposed rulemaking (NPRM) announcing the FHFA’s intent to withdraw several regulatory requirements for FHLBanks as well as Fannie Mae and Freddie Mac. ...more
Mortgage lenders who do business with the Government Sponsored Enterprises (“GSEs”) should note recent updates to their reconsideration of value (“ROV”) requirements....more
On August 29, three Democratic senators submitted a letter to FHFA Director Bill Pulte to urge him to prioritize lowering housing costs and expanding access to affordable homeownership. The letter — signed by Sens. Elizabeth...more
What Happened? On July 8, 2025, U.S. Federal Housing Agency (FHFA) announced that lenders will soon be able to use the VantageScore® 4.0 credit model or Classic FICO® via the tri-merge credit report requirement when they...more
As I read through my last commentary on the future of the GSEs and fielded some comments from readers, I realized I glossed over hard questions about how the governmental backstop would work, sort of like envisioning a plane...more
On August 12, the U.S. Court of Appeals for the Federal Circuit affirmed a lower court’s dismissal of a shareholder suit brought by two stockholders. The two plaintiff stockholders held interests in both Fannie Mae and...more
The FHFA has directed Fannie Mae and Freddie Mac to prepare proposals for consideration of cryptocurrency as an asset for reserves in their single-family risk assessments, without a conversion to dollars....more
I am joining the hordes occupying the chatter-sphere to opine about what the GSEs should look like, post conservatorship. Having reviewed loads of opinions about the future of the Twins, I’m pretty sure the bar on looking...more
For the past few years, Fannie Mae, Freddie Mac and the Federal Housing Finance Agency have investigated suspect fraudulent deals. After the great financial crisis, several regulations were implemented to increase the number...more
Fannie Mae recently announced updates to its Multifamily Loan Documents with Lender Letter (25-04). Since that time, Fannie Mae released a revised Lender Letter (25-04R) that changed the mandatory date for use of the loan...more
On June 25, the Federal Housing Finance Agency (FHFA) issued a directive ordering Fannie Mae and Freddie Mac to prepare proposals for treating cryptocurrency held on U.S.-regulated exchanges as assets for reserves in...more
What Happened? On June 26, Federal Housing Finance Agency (“FHFA”) Director William Pulte told Fannie Mae and Freddie Mac (the “government sponsored entities”) to draft policies that would consider a borrower’s cryptocurrency...more
Fannie Mae (1938) and Freddie Mac (1970) were created with the end goal of promoting homeownership across the United States. Fannie Mae and Freddie Mac, both government-sponsored entities (“GSEs”), are publicly traded and...more
Continuing a focus on knowing your clients and fraud, Fannie Mae released last week Title and Closing Requirements for Multifamily Mortgage Loans Form 4650, a comprehensive update that will impact how you set up future...more
Fannie Mae published its Preferred Equity Guide Update (25-06) and its Preferred Equity Checklist (Form 6441) in mid-April. Although unpublished iterations have been circulating for the past two years, lenders and law firms...more
On April 16, three senators urged the FHFA Inspector General to investigate the agency’s purported noncompliance with federal laws and regulations concerning corporate governance at Fannie Mae and Freddie Mac. Sens. Jack Reed...more