The Mortgage Bankers Association has opposed the extension of the risk-sharing program, which provides capital to housing finance agencies that offer FHA loans for affordable multifamily rental properties.
With the new FHA payment supplement loss-mitigation option, servicers will be able to temporarily lower a delinquent borrower’s monthly payment by up to 25%, and up to 30% of the loan’s balance can be directed into a junior lien as a partial claim.
Ginnie Mae is also revising the financial eligibility requirements for FHA Title I issuers to help increase lender participation in securitization of the loans.
Congressional lawmakers next week are expected to take up legislation meant to finalize fiscal 2024 funding bills before the latest continuing resolutions lapse.
USDA plans revisions to its single-family housing loan guarantee program guide; HUD raises civil monetary penalties; USDA lowers interest rates for its direct loan program; NAIHC names new executive director; FHA and USDA offer training opportunities in March.
FHA is increasing the maximum loan limits for Title I manufactured housing to 15% above the average home price based on Census data for each given type of loan.
Department of Housing and Urban Development Chief of Staff Julienne Joseph this week provided an update on anticipated policy changes to the FHA single-family home loan program.
House passes tax bill with LIHTC provisions; FHA finalizes rules on branch office registration requirements; HUD to hold meeting of the Manufactured Housing Consensus Committee; and other news.