The Financial Stability Oversight Council wants Congress to pass legislation that would allow Ginnie Mae to expand its pass-through assistance program for nonbank servicers.
Congress should consider legislation to allow Ginnie Mae to expand its pass-through assistance program to give nonbanks a liquidity backstop, according to the Financial Stability Oversight Council.
The guidelines lay out the process lenders must develop for borrowers to request an appraisal reassessment when they believe a valuation was inaccurate or biased.
Will allowing lenders to omit one of the three credit scores from the underwriting process reduce costs for borrowers or ensure that some unqualified borrowers inadvertently get a loan they can’t afford?
Sam Valverde, Ginnie Mae’s principal executive vice president, will serve as acting president, while Laura Kenney, senior advisor for strategic operations, will assume additional duties.
The Mortgage Bankers Association and Community Home Lenders of America want policy updates from the VA and FHA to respond to market changes that are anticipated following a proposed National Association of Realtors settlement tied to broker commissions.
CHLA endorses House Resolution 612 to protect veterans benefits; VA finalizes rule updating loss-mitigation terminology; VA adopts a no cash, no check policy; Ginnie adds low- to moderate-income data disclosures related to its home equity conversion mortgage MBS program; HUD to hold vacant home sale related to its HECM program.
The Mortgage Bankers Association and the Community Home Lenders of America are on opposite sides of the debate about allowing the GSEs to waive the requirement for lender’s title insurance.
The Community Home Lenders of America worries changes in home sale commission practices could make it more difficult for veterans to purchase homes using their VA home loan benefits.