Key facts
- FHFA is reviewing whether to change loan-level price adjustments (LLPAs).
- FHFA is reviewing the use of multiple credit reports in mortgage underwriting.
- Pulte expects a decision on LLPA changes before year-end.
- Pulte denied interest in becoming White House chief of staff.
Federal Housing Finance Agency (FHFA) Director Bill Pulte indicated on social media that the agency is reviewing its policies on loan-level price adjustments (LLPAs) and the use of credit reports in mortgage underwriting. Pulte suggested that changes could be implemented as soon as 2026, aiming to make housing more accessible and reduce costs for consumers. He stated that a decision on potential LLPA changes is expected before the end of the year. Pulte also denied recent media reports suggesting he might take on the role of White House chief of staff under President Donald Trump, emphasizing his focus on housing accessibility. His comments follow his cancellation of participation at the Mortgage Bankers Association (MBA) Annual Convention & Expo, where industry participants had anticipated discussions on affordability measures. The MBA forecasts a decline in origination volume to below $2 trillion in 2027, with interest rates expected to remain elevated. Credit report fees have increased, and the current LLPA structure from Fannie Mae and Freddie Mac has faced criticism from mortgage originators. Previously, during the Biden administration, the FHFA had explored a bi-merge standard for credit reports to lower costs and boost competition, though this faced industry pushback.