What Happened? On July 8, 2025, U.S. Federal Housing Agency (FHFA) announced that lenders will soon be able to use the VantageScore® 4.0 credit model or Classic FICO® via the tri-merge credit report requirement when they...more
Stemming from the Federal Housing Finance Agency’s (FHFA) 2019 validation and approval of credit score models final rule, the FHFA announced in October 2022 that Fannie Mae and Freddie Mac, the government-sponsored...more
On May 1, 2023, new loan-level price adjustments (“LLPAs”) for single-family mortgages purchased by Fannie Mae and Freddie Mac (the “agencies”) went into effect. The Federal Housing Finance Agency (“FHFA”) – the independent...more
On March 23, FHFA announced a two-phase plan for soliciting stakeholder input on the agency’s proposed process for implementing updated credit score requirements....more
On Thursday, Feb. 23, the Federal Housing Finance Agency (FHFA) announced a proposed rule to amend the Enterprise Regulatory Capital Framework (ERCF) for Fannie Mae and Freddie Mac (the Enterprises). FHFA indicated that the...more
Biden Makes It Easier for Student Loan Borrowers to Get a Mortgage - "The new rule supported by the Biden administration proposed that FHA lenders drop the requirement to calculate student loan payments at 1%." Why this is...more
On July 6, 2021, the Eleventh Circuit issued a per curiam opinion affirming the Southern District of Alabama’s entry of summary judgment in the lender’s favor on a plaintiff’s claim under the Fair Credit Reporting Act...more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
The CFPB recently updated its Home Mortgage Disclosure Act (HMDA) FAQs to add two items regarding multiple data points....more
On January 29, 2020, the House passed H.R. 3621, the Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency Act of 2020 (“Comprehensive CREDIT Act”). Sponsored by Rep. Ayanna Pressley (D-MA), it...more
In the internal battle between keeping China off balance and keeping Wall Street happy, the White House has decided once again to focus on the latter, walking back the latest tariff escalation by postponing promised...more