The Consumer Federation of America has suggested policy changes to help FHA borrowers better compete in the market.

FHA has outlined interim procedures for nonjudicial foreclosures with liens held by the secretary of the Department of Housing and Urban Development.

The trade group urged the Department of Housing and Urban Development to roll back the minimum debt service coverage ratio and raise the maximum loan-to-cost ratios for FHA’s multifamily loan program.

Ginnie Mae issuers produced $38.15 billion into mortgage-backed securities in July, an 8.3% increase from the previous month. (Includes two data tables.)

Vice President Kamala Harris outlines economic agenda for her presidential campaign; ex-FHA official joins M&T Bank; VA outlines secondary borrowing requirements when using assumable mortgages; FHA drafts guidance on loss-mitigation consultation requirements.

The move is meant to keep FHA multifamily loans for new construction competitive with those from other programs.

With the presidential election around the corner, FHA Commissioner Julia Gordon said her goal is to ensure she leaves FHA stronger than she found it. A Republican-appointed FHA commissioner also voiced support for the agency at a recent event to celebrate FHA’s 90th anniversary.

The final rule has its roots in a pandemic-era temporary partial waiver of the face-to-face meeting requirement. That waiver will remain in place through the end of the year.

Under the proposed legislation, FHA would receive $155 million for administrative contract expenses for fiscal year 2025.

The National Association of Home Builders has asked its members to support a bill that would stop FHA and the U.S. Department of Agriculture’s Rural Housing Service from adopting the 2021 International Energy Efficiency Code.