There’s a lot happening in Washington right now, and if you’re thinking about buying a home, paying attention could save you a few headaches — and maybe a few bucks. Two big stories are colliding: FICO’s changing how lenders buy credit scores, and the feds may be cutting back on affordable housing goals. Both moves could ripple through the housing market.
FICO Goes Direct — But Will It Really Save You Money?
Starting October 1, FICO began selling credit scores directly to lenders, skipping over the three big credit bureaus — Equifax, Experian, and TransUnion. They’re calling it the Mortgage Direct License, and it’s supposed to make things “simpler and cheaper.” Lenders will pay $4.95 per score instead of the current bundled markups that can cost nearly double.
Sounds good, right? Maybe.
FICO says it’s all about transparency and lowering costs. But critics are skeptical. The Consumer Data Industry Association says FICO already doubled prices in the past year, and lenders could just push those higher costs onto borrowers. So while the new system may look efficient, don’t be surprised if the savings never reach your wallet.
The big question: will this help more people qualify for mortgages — or just make the paperwork cheaper for banks?
Affordable Housing Goals Might Be Getting a Trim
Meanwhile, the Federal Housing Finance Agency (FHFA) — which oversees Fannie Mae and Freddie Mac — wants to change how affordable housing goals work. For decades, these goals have helped guide lenders to make mortgages available for low-income and minority buyers.
But now FHFA is proposing to merge those goals into one and lower the target. Housing advocates are sounding alarms. They say fewer families will get access to affordable loans, and it could hit first-time buyers the hardest.
You can actually weigh in — public comments are open until November 3. So if you’ve got opinions on housing fairness, now’s your chance to speak up.
Politics, Shutdowns, and a Little Bit of Drama
On top of all that, the government shutdown has thrown another wrench into the works. HUD — the Department of Housing and Urban Development — posted a notice blaming “the Radical Left” for the shutdown. That didn’t sit well with many people, since federal agencies aren’t supposed to get political. Some are saying it might even violate the Hatch Act, which bans partisan messaging from government offices.
HUD says it’s just “telling the truth.” Critics call it propaganda. Either way, it’s not helping calm the waters.
The National Association of Realtors also warned that the longer the shutdown drags on, the worse it could get for the housing market. One big issue? The National Flood Insurance Program has expired — and without it, home sales in flood zones could come to a screeching halt.
What It All Means for You
There’s a lot of noise coming out of D.C. right now, but here’s the simple version:
- FICO’s new plan might help lenders save — but buyers may not feel it.
- Affordable housing targets could shrink, making it harder for some families to buy.
- Government shutdowns are messy, and housing programs could get caught in the crossfire.
The takeaway? Keep an eye on these changes. They may sound like inside-the-Beltway stories, but they have real-world consequences for anyone trying to buy, sell, or build homes — especially in the affordable housing space.
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With over 9,000 published articles on modular and offsite construction, Gary Fleisher remains one of the most trusted voices in the industry.
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