NCUA Board Member Rodney Hood met with NAFCU Senior Vice President of Government Affairs Greg Mesack, Vice President of Regulatory Affairs Ann Petros, and Senior Regulatory Affairs Counsel Aminah Moore Tuesday to discuss several topics of note.
The Federal Housing Finance Agency (FHFA) announced yesterday the validation of both the FICO 10T credit score model and the VantageScore 4.0 credit score model for use by Fannie Mae and Freddie Mac. The FHFA expects implementation will be a multiyear process, and lenders will be required to deliver both scores with each loan sold to Fannie Mae and Freddie Mac.
The Federal Housing Finance Agency (FHFA) announced Monday targeted changes to Fannie Mae and Freddie Mac’s pricing framework by eliminating upfront fees for certain borrowers and affordable mortgage products. In addition, the agency published a new uniform appraisal dataset (UAD), in conjunction with new UAD Aggregate Statistics Dashboards, on its website to provide user-friendly visualization of the newly available data.
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The best messenger with policymakers in Washington is the credit union who is out there every day trying to meet the needs of their members. The association is urging credit unions to use NAFCU’s Grassroots Actions Center to speak out against efforts to expand NCUA Third Party Vendor Authority by sending a message to their lawmakers and asking them to oppose the harmful legislation which is being considered as part of the House-Senate conference on the National Defense Authorization Act (NDAA).
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