The Federal Housing Finance Agency (FHFA) has announced plans to improve clarity surrounding the framework, and to explore alternative options for the mortgage industry. With a recent surge in loan buybacks, the agency is needed to provide additional clarity and guidance to mortgage industry professionals across the nation.
The FHFA Director has stated that the agency will be taking a close look at their existing set of rules, as well as making efforts to explore other alternatives that will ensure mortgage standards remain high. This includes reviewing their existing policy practices and roles within the organization, as well as drafting new policies and regulations for the greater good of the mortgage industry. With a change of administration, the FHFA is also expected to better equip lenders and servicers with the guidance and support needed to remain in compliance.
Key Points:
– FHFA announced plans to improve clarity for framework and explore alternative options for mortgage industry
– FHFA Director stated agency will review existing rules, explore other alternatives and draft new policies and regulations
– Expects to equip lenders and servicers with guidance and support needed to remain in compliance
You can read this full article at: https://www.housingwire.com/articles/housingwire-annual-fhfas-sandra-thompson-addresses-loan-buyback-issue/(subscription required)
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