Extending rep-and-warrant relief to loans that successfully exit COVID-19 forbearance could further reduce the already small volume of buyback requests.
Panelists at a Community Home Lenders of America roundtable discussed the challenges in targeting low- to moderate-income borrowers, including first-time and minority homebuyers.
Former Ginnie Mae President Ted Tozer wants FHA to consider adjusting or eliminating its minimum downpayment requirement to put homeownership in the reach of more consumers.
Ginnie Mae eligibility requirements issued a year ago are largely set to take effect at the end of the month. Most issuers are in compliance with the standards, according to the agency.
Industry groups, even those that support FHFA’s plan to revamp how credit scores work in the mortgage space, urge the agency to take more time with implementation.
The Community Home Lenders of America is pushing for Congress to create a cash window for deliveries to Ginnie Mae. Former Ginnie President Ted Tozer noted the agency’s charter doesn’t allow it to operate a cash window.