“Extremely disappointed to hear about the cost increases by FICO onto American consumers.” – @pulte
CHLA has been sounding the alarm since Jan 2024—credit pulls now cost 8x more than 30 months ago. It’s hurting American homebuyers.
FICO felt the heat. Stock’s down.
Leadership makes a difference.
After the hard work by many great Senators, including Senator Tim Scott, I am Extremely disappointed to hear about the costs increases by FICO onto American consumers.
Nationally, loan applicants of color were 40%–80% more likely to be denied than their White counterparts. In certain metro areas, the disparity was greater than 250%. @CHLAssociation had something to say about it:
#CHLA#mortgage#investing#RealEstate
https://t.co/Dj5Tl8jZvI
Lower mortgage rates through the end of next year led @FannieMae to increase its 2022 forecast to $3.31 trillion in the July report from June's $3.23 trillion.
By @NMNBrad https://t.co/XbdFtLHxM9
FHFA's proposed 2022-2024 housing goals for @FannieMae and @FreddieMac establish new benchmarks and promote equitable access to affordable housing. Learn more: https://t.co/tp6amhqIsU
Ginnie Mae will give more time for financial institutions to comment on a plan that would impose new risk-based capital requirements on nonbanks and clarified that the changes will not take effect this year. https://t.co/F92fIwCx56
17% of recently denied mortgage applications would have been approved with @FannieMae’s new underwriting system.
By @PCentopani https://t.co/jgXA2WKK8N
“The risks of resolution for the smaller [independent mortgage banks] are so low that we just don't think it's appropriate to set the bar so high,” said @CHLAssociation Executive Director Scott Olson
By @bcynic https://t.co/kBwDv8aenT