Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

https://www.housingwire.com/articles/on-time-rent-now-counts-in-fannie-mae-underwriting/

"Thompson has already made clear in her short tenure as head of the FHFA that expanding credit to low-income and minority communities is paramount. The Biden administration has also made clear it is committed to improving racial equity and taking steps to reduce the racial homeownership gap.

Less clear, however, are the specific policies that will accomplish those lofty goals.

Legislation to provide down payment assistance, which housing advocates say would help borrowers of color who do not have the benefit of generational wealth, is fighting its way through Congress. In July, a task force, co-chaired by former United Nations Ambassador Susan Rice and Housing and Urban Development Sec. Marcia Fudge, started to take a hard look at potential racial bias in the appraisal process.

Those efforts will take time to bear fruit. But in the immediate term, the impact of considering rental payment history in making credit decisions could be profound. In a study of recent unfavorable recommendations from its desktop underwriting system, Fannie Mae found that 17% of those would have been approved, had their rental history been considered."

https://www.housingwire.com/articles/mortgage-applications-up-2-8-as-jobs-numbers-rise/

https://www.housingwire.com/articles/down-payment-assistance-part-of-3-5t-infrastructure-plan/