Fannie Mae (FNMA)

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Short Takes: Should the GSEs Use ‘Alt’ Credit Scores ?

A Good Chance of Passage ?

Ben Carson Heading Home ?

An MPF Milestone

Tuesday March 14, 2018 ...By Paul Muolo ... [e-mail]



It looks as though Fair Isaac’s lobbyists didn’t earn their pay this week. The regulatory relief bill working its way through the Senate would direct the Federal Housing Finance Agency to allow Fannie Mae and Freddie Mac to consider alternative credit score models outside of FICO. The language – which would boost the fortunes of VantageScore – was a late addition to the pending reg relief bill.

Last summer, a bipartisan Senate measure would have required the GSEs to embrace alternative credit scoring models. However, the measure went nowhere…

Industry lobbyists believe there’s a decent chance of reg reform passing this time around because it’s more bipartisan in nature. Republicans would love another legislative victory that would please the business community…

Will Department of Housing and Urban Development Secretary Ben Carson be the next Trump cabinet member to depart ?

Mortgage professionals are beginning to weigh the possibility – though it’s entirely speculation at this point.

In February, it came to light that the HUD Inspector General was reviewing the involvement of Secretary Carson’s family at the agency…

IN CASE YOU MISSED IT: The Mortgage Partnership Finance program of the Federal Home Loan Bank system recently surpassed the $1 billion mark in mortgage-backed securities issued. The MPF Government MBS product was the result of a partnership forged by the Federal Home Loan Bank of Chicago and Ginnie Mae.