McKernan's prior roles include senior financial policy advisor for Sen. Bob Corker and posts with the Senate Committee on Banking, Housing, and Urban Affairs and the US Treasury
Plan to require lenders working with Fannie and Freddie to use FICO Score 10 T and VantageScore 4.0 models by Q4 2025 has been dropped, with new implementation date 'TBD'
The grandson of PulteGroup founder William J. Pulte, Bill Pulte is a private equity CEO, philanthropist and Trump loyalist with 3M followers on X
Trade group for title insurers complains federal regulators are disregarding the views of lawmakers in allowing the program to move forward on the eve of a 2nd Trump administration
Mortgage giants will be allowed to back loans of up to $1.2M in high-cost markets, providing ammo to critics who say goverment backing for mortgages adds to affordability woes
Home prices continued to rise in September, albeit at a more sluggish pace, according to dueling reports released Tuesday by the Federal Housing Finance Agency and the S&P Dow Jones Indices
Mortgage giants Fannie Mae and Freddie Mac provided backing for $164B in purchase mortgages in Q3, up 10% from Q2, while remaining profitable and growing their combined net worths to $147B
Appraisal waiver programs that rely on automated valuation models will be expanded next year to allow participation by homebuyers putting less than 20% down, with OK from federal regulator
With prices rising, it's becoming standard operating procedure for big lenders like Rocket to help homebuyers avoid jumbo loan pricing by getting a jump on FHFA's official announcement
With former JP Morgan Chase Director Priscilla Almodovar serving as Fannie Mae's CEO since 2022, both mortgage giants are now led by women for the first time in history
Lender creates and funds an escrow account that's used to cover the difference between the full monthly mortgage payment and the payment with the reduced rate until the buydown expires
Concerns about fraud mean lenders who want to sell multifamily loans to the mortgage giants may be required to do more due diligence on borrowers and their properties
Release of historical credit scores on tens of millions of loans will help lenders prepare for transition to VantageScore 4.0 next year. Release of FICO Score 10 T data next on deck
Modest pilot program approved by federal regulators was opposed by banks who have traditionally provided most home equity loans, but nonbank lenders have already made inroads
Repeat-sales models have been the gold standard in home-price tracking for decades. Intel examines what they miss, and what some data providers are doing to fill in the gaps