Dozens of fired employees, all US citizens of Indian nationality, deny defrauding charitable giving program and file lawsuits seeking $82M from chair Bill Pulte and CEO Priscilla Almodovar
Impact on rates depends on the structure of rumored IPO. Whatever the plan, the Trump administration has stacked the boards at the mortgage giants with its supporters
Consumer group claims FHFA's plan to pit VantageScore 4.0 against older FICO Classic score on Fannie, Freddie loans will make 'anti-competitive natures of the credit scoring market even worse'
114 posts in July alone raise 'significant questions about your judgment and commitment to operating FHFA in a responsible, competent, and lawful manner,' Senator scolds regulator
Trump administration would probably lose court battle, lawyers reportedly advise White House, and markets would react badly, 'The Wall Street Journal' editorial board warns
As new scoring models by Fair Isaac and VantageScore vie for acceptance by Fannie Mae and Freddie Mac, claims and counterclaims fly. For now, mortgage giants are stuck with FICO Classic
Once selling guides are updated, lenders will have the option of using either VantageScore 4.0 or the Classic FICO scoring model, but FICO Score 10 T remains in limbo, FHFA says
Like New York AG Letitia James, senator denies lying on mortgage applications and decries 'baseless attempt at political retribution' that won’t stop him from holding Trump accountable
Central bank refutes allegations by Trump administration officials that a headquarters renovation project has been mismanaged and that Powell lied to Congress about its specifics
FHFA Director Bill Pulte is reportedly 'on thin ice' with several Trump administration officials over lack of communication on new Fannie Mae and Freddie Mac credit score policy
Title insurers wanted to put the brakes on a pilot program that uses automated title reviews to allow some homeowners to refinance their mortgage without having to pay for title insurance
OMB Director Russell Vought put accusations that Federal Reserve Chair Jerome Powell lied to Congress about a $2.5B renovation of the Fed's headquarters in writing Thursday
Mortgage giants allegedly weren't informed in advance that they'd be required to accept VantageScore 4.0, and lenders have lots of questions about how the new process will work
While questions remain about details of the new policy, FHFA Director Bill Pulte says mortgage lenders must still use 'tri-merge' process to obtain scores from all 3 major credit bureaus
Bill Pulte made his pitch in a statement on Wednesday. The FHFA director and President Donald Trump have been trying to pressure Powell to resign amid high interest rates