Tried and true has won out over shiny and new, at least when it comes to GSE credit scoring. And at least for the moment. The Federal Housing Finance Agency (FHFA) announced on Tuesday that it has validated and reapproved the Classic FICO credit score model for use by Fannie Mae and Freddie Mac for assessing the creditworthiness of mortgage borrowers. The Agency said this would allow the GSEs "to continue supporting the mortgage market while assessing more modern credit score models that were submitted in response to the 2020 Joint Enterprise Credit Score Solicitation." That solicitation was issued jointly by the GSEs In February. They were seeking possible alternatives to the model which has, for years, been the only credit score they accepted. The major credit agencies, Equifax, TransUnion

November 12, 2020 Download our Mobile App: Download our Mobile App: Housing News Fannie/Freddie Adopt Not-so-New Credit Score Model Tried and true has won out over shiny and new, at least when it comes to GSE credit scoring. And at least for the moment. The Federal Housing Finance Agency (FHFA) announced on Tuesday that it has validated and reapproved the Classic FICO credit scor... (read more) MBS Commentary MBS Live Recap: Strong Move in Bonds Helps Balance The Outlook Strong Move in Bonds Helps Balance The Outlook After a month of almost exclusive weakness, extreme volatility in early Nov, and the weakest day we've seen in a long time on Monday, bonds were definitely on th... (read more) Housing News Realtor Comments on How Pandemic Changed Homebuying There was apparently a certain profile of home buyers before the pandemic struck and a different one after it began. The National Association of Realtors'® (NAR's) 2020 Profile of Home Buyers and Sellers, an annual report on demographics, prefere... (read more) Rob Chrisman MLO, Ops Jobs; Marketing, Non-QM, Jumbo Products; Company News Are the election results under control? Thank you to Hawai’i’s Joe G. who sent along this site where the odds of who the next president will be are posted; you can buy shares in your favorite! Is COVID under control? In some parts of the ... (read more) Mortgage Rate Watch Mortgage Rates Back Up To Pre-Election Levels Mortgage rate movement had been very calm relatively resilient compared to the broader bond market. In other words, mortgages have been doing better than US Treasuries. The 10yr Treasury yield is frequently used as a bellwether for mortgage rate move... (read more) Housing News Serious Delinquencies Set Records as Early Rates Trend Down Extremely serious delinquencies, those loans 150 days or more past due, reached historically high levels in August. Five months into the COVID-19 crisis, Corelogic said the rate of delinquencies among those loans spiked to 1.2 percent, the highest le... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.88% -0.03% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.88% -0.03 0.00 15 Yr. Fixed 6.16% -0.01 0.00 30 Yr. FHA 6.43% -0.04 0.00 30 Yr. Jumbo 6.97% +0.02 0.00 7/6 SOFR ARM 6.44% 0.00 0.00 30 Yr. VA 6.44% -0.05 0.00 Updates Daily - Last Update: 6/17 15 Yr. Fixed Rate 6.16% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.84% -0.01 0.00 15 Yr. Fixed 5.97% -0.02 0.00 Updates Weekly - Last Update: 6/12 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.93% +0.01 0.64 15 Yr. Fixed 6.16% -0.09 0.66 30 Yr. Jumbo 6.93% +0.01 0.63 Updates Weekly - Last Update: 6/11 MBS / Treasuries UMBS 30YR 5.5 99.06 +0.00 Price / Yield Change MBS UMBS 5.5 99.06 +0.00 UMBS 6.0 101.01 -0.02 GNMA 5.5 99.42 +0.07 GNMA 6.0 101.08 +0.03 Pricing as of: 6/18 5:04AM EST 10 Year US Treasury 4.3993 +0.0149 Price / Yield Change US Treasury 2 YR Treasury 3.952 -0.001 5 YR Treasury 3.995 +0.004 7 YR Treasury 4.184 +0.011 10 YR Treasury 4.401 +0.016 30 YR Treasury 4.900 +0.009 Pricing as of: 6/18 5:04AM EST Latest Video Home buyers are flocking to vacation towns Fed Chairman Powell says the economy will face challenges for the next few ... Treasury sells record $27B in 30-year bonds U.S. weekly jobless claims total 709,000 vs. 740,000 estimated Around the Web NAR - Realtor.com Despite Uncertainty, Home Prices Are Rising by Double Digits in Much of Nation news.google.com Coronavirus-fueled suburban migration may be slowing down - Yahoo Finance Calculated Risk Blog Lawler: Recent Slowdown in US Population Growth Accelerated in 2020 CNBC Here are the things that scare Jerome Powell the most about the economy right now CNBC Democrats and Republicans are still far apart on economic stimulus deal as coronavirus infections surge CNBC Watch Fed Chair Jerome Powell speak live at a European Central Bank forum Calculated Risk Blog Cleveland Fed: Key Measures Show Inflation Eased Year-over-year in October NAHB Eye on Housing Consumer Prices Unchanged in October Calculated Risk Blog Weekly Initial Unemployment Claims decreased to 709,000 Calculated Risk Blog BLS: CPI unchanged in October, Core CPI unchanged CNBC Treasury yields dip ahead of key economic data and Fed chair's speech CNBC Big drop in Manhattan apartment prices begins to lure back younger renters CNBC Fed officials in 'robust' discussions about the future of their asset-purchase program

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