Today's Headlines - Realty Times
Posted On Monday, 12 February 2024 10:21 Written by
Posted On Monday, 12 February 2024 09:38

FHLBank San Francisco Member Financial Institutions Can Now Originate More Loans for Underserved Borrowers to Close the Racial Homeownership Gap

The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) and VantageScore announced today that FHLBank San Francisco will now accept mortgage collateral originated by lenders using VantageScore 4.0 credit scores, which considers rental payments and other data points into its scoring algorithms that are not included in traditional scoring models, ushering in an innovative solution aimed at closing the racial homeownership gap. By expanding the kind of mortgage collateral eligible to be pledged by member financial institutions borrowing from FHLBank San Francisco, lenders will be able to increase the amount of creditworthy mortgage applicants and include many underserved borrowers left out by conventional models. VantageScore estimates that using the VantageScore 4.0 credit model will result in approximately 33 million more consumers nationwide having access to a credit score that may aid them in obtaining a mortgage; including an estimated 5.5 million consumers within the FHLBank’s regional footprint of Arizona, California, and Nevada.

“We know there are millions of creditworthy borrowers aspiring to be homeowners who are falling through the cracks,” said Teresa Bryce Bazemore, President and CEO of the Bank of San Francisco. “Expanding the pool of creditworthy applicants through the use of more inclusive and innovative predictive models, such as VantageScore 4.0, effectively helps us deliver the American Dream of homeownership to more applicants and further narrow the racial wealth gap. Over the last few years, we have dedicated significant resources and commitment to investing in expanding Black homeownership and we are excited to be the first mover among our peers and bring the program to life.”

In October 2022, the Federal Housing Finance Agency announced its approval of VantageScore 4.0 for Fannie Mae and Freddie Mac, enabling widespread industry adoption of the new credit scoring method and opening the door to millions more qualified applicants by incorporating rental payments and other data points into scoring algorithms not included in traditional scoring models, all without lowering credit risk standards.

Notably, FHLBank San Francisco is the first in the Federal Home Loan Bank System to accept collateral that uses VantageScore’s predictive and inclusive credit scoring model. This decision is the latest step that FHLBank San Francisco has taken over the last four years to advance racial equity in homeownership and wealth building:

  • In June 2020, FHLBank San Francisco announced it would redouble its commitment to making homeownership possible for more Black households.
  • In October 2021, FHLBank San Francisco launched the Racial Equity Accelerator, a two-year research and product advancement initiative with the Urban Institute to identify ways to close the racial homeownership gap.
  • As part of that initiative, in October 2022, the Urban Institute issued an analysis, “Reducing the Black-White Homeownership Gap through Underwriting Innovations,” that detailed ways to use alternative data to expand the pool of eligible homebuyers and recognized the impact of VantageScore 4.0. 
  • In October 2023, FHLBank San Francisco published “Closing The Racial Equity Gap: A Call To Action,” which includes a package of recommendations for updating the housing ecosystem to close the racial homeownership and wealth gaps. In that report, FHLBank San Francisco highlighted the VantageScore 4.0 model as being more inclusive and particularly effective in communities currently excluded from the mortgage marketplace.
  • Following the report, FHLBank San Francisco began a validation process that was completed at the end of 2023, validating the VantageScore 4.0 model as acceptable for residential mortgage loans pledged to secure credit from FHLBank San Francisco.

“The decision by the Federal Home Loan Bank of San Francisco to accept mortgage collateral backed by VantageScore will have a significant impact on boosting homeownership rates among creditworthy but traditionally underserved communities, while increasing safety and soundness,” said Anthony Hutchinson, SVP of Government and Industry Relations, VantageScore. “Addressing the persistent disparities that exist in mortgage lending is an important precursor to reducing the homeownership gap in communities of color, which is a priority that both VantageScore and Federal Home Loan Bank of San Francisco share.”

“We believe in driving financial inclusion and creating more equitable access to credit in the communities we serve,” said Richard Wada, Chief Lending Officer at Patelco Credit Union, headquartered in Dublin, California. “We've been using VantageScore 4.0 for our auto loans and credit cards and that's provided us with a new pathway to provide fair and accurate credit scores to a broader population, creating opportunities for us to lend credit safely and soundly to consumers historically left behind. We look forward to leveraging VantageScore 4.0 for mortgage lending in the future.” 

Posted On Monday, 12 February 2024 08:39 Written by

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.64 percent.

“Mortgage rates remain stagnant, hovering in the mid-six percent range over the past several weeks,” said Sam Khater, Freddie Mac’s Chief Economist. “The economy and labor market remain strong with wage growth outpacing inflation, which is keeping consumer spending robust. Meanwhile, affordability in the housing market is an ongoing issue due to continued high home prices, elevated mortgage rates and low supply of homes on the market, particularly for first-time and low-income homebuyers.”

News Facts

  • The 30-year FRM averaged 6.64 percent as of February 8, 2024, up slightly from last week when it averaged 6.63 percent. A year ago at this time, the 30-year FRM averaged 6.12 percent.
  • The 15-year FRM averaged 5.90 percent, down from last week when it averaged 5.94 percent. A year ago at this time, the 15-year FRM averaged 5.25 percent.

The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website

Posted On Friday, 09 February 2024 01:45 Written by

In an increasingly environmentally conscious world, improving your home's energy efficiency is not only responsible but also a wise investment. As sustainable living grows in popularity, energy-efficient homes are gaining momentum, often yielding a higher resale value and can help sell your home fast due to their lower environmental impact and reduced energy bills. Inspired by the will to reside in environmentally conscious and energy-efficient homes, let's explore five practical ways you can transform your living space into a sustainable haven.

1. Embrace energy-efficient appliances and lighting

One of the simplest yet most effective steps towards a sustainable home is updating your appliances and lighting. Energy-efficient appliances, identifiable by the Energy Star label, use less energy, reducing both your carbon footprint and utility bills. Similarly, LED light bulbs are a smart swap, consuming up to 80% less energy than traditional incandescent bulbs. This small change not only reduces energy consumption but also cuts down on replacement costs due to their longer lifespan.

2. Water conservation with low-flow fixtures

Water is a precious resource, and conserving it is a cornerstone of sustainable living. Using low-flow showerheads and faucets can help reduce water usage while maintaining daily needs. This simple modification can significantly lower water bills and conserve water a for sustainable living.

3. Insulate and seal your home

A well-insulated home is key to energy efficiency. Proper insulation in walls, attics, and other key areas helps maintain your home's temperature, lessening the reliance on heating and cooling systems. This not only saves energy but also enhances the comfort of your living space.

4. Utilize natural light and heat

Leveraging natural light can dramatically reduce dependence on artificial lighting. Consider adding windows or skylights, and keep curtains and blinds open during the day. Additionally, planting trees or installing shading devices can naturally cool your home, reducing the need for air conditioning. These strategies not only make your home energy-efficient but also create a more pleasant and healthier living environment.

5. Smart home technology for energy management

Adopting smart home technologies, like a programmable thermostat, can significantly improve your home's energy efficiency. These devices allow you to automatically adjust your home's temperature based on your schedule, reducing energy waste. Unplugging chargers when not in use is another small but impactful step in reducing energy consumption.


Creating an energy-efficient home is a journey of thoughtful choices and investments. From upgrading to energy-efficient appliances to insulating your home, each step contributes to a more sustainable lifestyle. Understanding the value and benefits of these changes, whether it's for comfort, health, environmental reasons, or technological advancement, can make a significant difference. Embrace these changes and enjoy not only a more sustainable home but also the peace of mind that comes with knowing you're contributing to a healthier planet.

Posted On Friday, 09 February 2024 14:44
Posted On Friday, 09 February 2024 10:49
Posted On Friday, 09 February 2024 10:40
Posted On Thursday, 08 February 2024 16:24
Posted On Thursday, 08 February 2024 14:05 Written by
Posted On Thursday, 08 February 2024 13:58
Page 23 of 1792

Agent Resource

Before You List

Realty Times

From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.