On the Hill is NAMB's bi-weekly read on what's happening in Washington and why it matters to mortgage brokers.
Each issue cuts through the noise to bring you the federal policy, legislation, and regulatory moves shaping your business, along with the context and action items you need to stay ahead.
Brought to you by the National Association of Mortgage Brokers, the voice of the broker community since 1973. |
A lot moved in D.C. this week, from a surprise leadership shake-up at the agency that oversees Fannie and Freddie to fresh action on veterans' lending. Here's what brokers need to know. |
Lead Story: FHFA's Pulte adds a second job, and the housing agenda may pay for it. |
On June 2, President Trump named FHFA Director Bill Pulte as acting Director of National Intelligence, replacing Tulsi Gabbard, whose resignation takes effect June 30. Pulte keeps his FHFA post and his chairmanship of Fannie Mae and Freddie Mac while taking on the new role.
Industry observers warn that Pulte's split focus could slow the priorities brokers have been tracking, including a possible Fannie/Freddie IPO, revisions to loan-level price adjustments (LLPAs), and adoption of an additional credit-scoring model. Without Senate confirmation, he is capped at 210 days as acting DNI.
Click here to read more... |
VA finalizes its partial claim program and new loss mitigation waterfall
On June 1, the VA finalized the foreclosure-prevention framework required by the 2025 VA Home Loan Program Reform Act. Servicers can begin submitting trial payment plans for loan modifications and partial claims on June 15, with systems and processes due by November 28.
A win worth flagging: the VA dropped a proposed 15% monthly payment increase for the partial claim option after industry pushback. The final program gives veterans a foreclosure-prevention tool comparable to other government-backed programs, without raising their monthly payment.
Click here to read more... |
House passes H.R. 6047, carrying VA loan fee and eligibility changes
The House passed the Sharri Briley and Eric Edmundson Veterans Benefits Expansion Act of 2026 on May 21 by a vote of 235 to 179. It heads to the Senate next and is not yet law.
It is primarily a veterans disability compensation bill, but it carries three provisions brokers should track. Per the Congressional Budget Office, the bill would extend current VA loan guaranty fee rates for nearly 28 months, increase the fees VA charges on certain refinance loans and on assumptions of existing VA-guaranteed loans (now 0.5% of the amount loaned or assumed), and count specified reserve-component duty as active duty when calculating VA home loan eligibility.
The reserve-duty change would widen the pool of VA-eligible borrowers. The fee changes cut both ways for your clients, so weigh them deal by deal. We'll be watching the Senate.
Click here to read more... |
FHA keeps tri-merge as it opens the door to VantageScore 4.0 and FICO 10T
FHA confirmed (INFO 2026-11) that it will continue requiring tri-merge credit reports as it adds VantageScore 4.0 and FICO 10T as eligible models alongside Classic FICO, with implementation dates and more guidance coming later this year. NAMB President Kimber White welcomed the alignment with FHFA and said he hopes more competition in the credit scoring market lowers the cost of credit reports and helps first-time buyers who fell just short under the old model.
Click here to read more... |
Action item: FHA wants your input on Minimum Property Requirements (comments due June 29)
FHA published a Request for Information (Docket No. FR-6609-N-01) on modernizing its Single Family Minimum Property Requirements. It is asking whether current MPRs adequately protect borrowers and whether the appraiser's scope of work aligns with modern appraisal practice. The comment window is open through June 29. If MPRs and appraisal scope touch your pipeline, this is your chance to weigh in.
Click here to read more... |
Questions over Vought's authority; staff ordered back to the office
Fair housing groups are challenging whether acting director Russell Vought has lawful authority, with his Federal Vacancies Reform Act clock running through August 1. A related suit targets a final rule revising Regulation B under ECOA. Separately, the CFPB is ending remote work and ordering all staff into a new D.C. headquarters five days a week. Both bear on how quickly the bureau moves on mortgage items brokers care about, including Regulation X servicing changes and the long-discussed LO Comp rule.
Click here to read more... |
- 30-year fixed: 6.48% (Freddie Mac, June 4), down from 6.53% a week earlier and 6.85% a year ago
- 15-year fixed: 5.79%
- Mortgage applications fell in the MBA's latest Weekly Applications Survey (June 3)
|
House Financial Services, under Chairman French Hill, has a full committee hearing on “Oversight of Prudential Regulators” on its June schedule. We'll report back on anything that touches mortgage policy. |
|
|
.png)
