McKernan (pictured right) comes to FHFA from the Department of the Treasury, where he was a senior policy advisor and was involved in the development of the Treasury Housing Reform Plan released in September. Prior to Treasury, he advised Sen. Bob Corker (R-TN) on housing finance reform and financial services issues, including Sen. Corker’s bi-partisan effort to negotiate housing finance reform legislation. Before serving in the federal government, he was counsel at Wilmer Cutler Pickering Hale and Dorr LLP.Seller/servicers using artificial intelligence in origination or servicing must have formal policies, oversight, and vendor controls in place
Fannie Mae’s artificial intelligence and machine-learning governance requirements take effect Thursday, Aug. 6, giving approved seller/servicers a final deadline to formalize how the technology is used across mortgage origination and servicing.The requirements apply when a s...
Pending sales fell to their lowest level since early April, but lower asking prices and reduced competition give originators more options to structure deals for qualified borrowers
Higher mortgage rates are thinning the purchase pipeline, even as lower asking prices and reduced competition give borrowers still in the market more leverage.Seasonally adjusted U.S. pending home sales totaled 322,739 during the four weeks ending July 26, their lowest level...
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