Category Archives: Apartment Loans

CFPB issues brief on consumers without credit histories or credit scores

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(RECAP: Earlier this week, the CFPB published a blog post, to announce that it has released a brief, “Who are the credit invisibles?,” that describes the May 2015 report’s “most significant findings” and a checklist of action items for consumers “who are new to credit or looking to rebuild.” Among the report’s findings highlighted in the new brief are that consumers in low-income neighborhoods are more likely to have no credit history with one of the nationwide consumer reporting agencies or an unscorable credit file and that Black and Hispanic consumers are more likely to have no credit history with one of the nationwide consumer reporting agencies and have unscored credit records than White or Asian consumers. The brief also includes a section describing actions consumers can take to build a credit history.)

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Trump's win affected some Fed voters' calculations, Fed Chair Yellen says

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(RECAP: Donald Trump’s plans to grow the economy through a surge in public spending figured into Federal Reserve officials’ expectations for three rate hikes next year, central bank Chair Janet Yellen said Wednesday. The Fed approved its second rate hike in a decade Wednesday and delivered a slight shock to the market with projections that there could be three more moves in 2017, as opposed to previous indications of just two. Questioned whether the president-elect’s proposals influenced the choice, Yellen said there was some discussion in that respect.)

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FHFA Issues Final Rule on Fannie Mae and Freddie Mac Duty to Serve Underserved Markets

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(RECAP: The FHFA today issued a final rule to implement the Duty to Serve provisions mandated by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act of 2008. The statute requires Fannie Mae and Freddie Mac (the Enterprises) to serve three specified underserved markets – manufactured housing, affordable housing preservation, and rural housing – by improving the distribution and availability of mortgage financing in a safe and sound manner for residential properties that serve very low-, low-, and moderate-income families in these markets.)

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