The CFPB is looking into whether it’s necessary to recertify a borrower’s ability to repay a rate-term mortgage refinance, Kevin Stevens, a senior manager at the bureau, said at a Mortgage Bankers Association conference held in Washington, DC, last week.
The Mortgage Bankers Association and the Housing Policy Council have called for specific changes to the proposed updates to FHA’s defect taxonomy for servicing loan reviews.
The Department of Housing and Urban Development updates code on manufactured home construction and safety standards; HUD issues final rule modernizing housing counseling services delivery; HUD’s Office of Housing Counseling hosts virtual conference.
The Mortgage Bankers Association and the Housing Policy Center have urged VA to extend the deadline to implement the Veterans Affairs Servicing Purchase loss-mitigation program though Dec. 31.
Stakeholders say the GSEs’ proposed definition of “first-generation homebuyer” in their equitable housing-finance plans unfairly excludes many of the people the enterprises and the FHFA want to help.
Many trade groups denounced Freddie’s plan to buy second liens, saying key details were lacking. There are also concerns that Freddie’s effort will simply cannibalize an otherwise healthy and liquid non-agency market for second liens.
Nonbank issuers in the Ginnie Mae program should have better access to funding from commercial banks to help bolster their liquidity, according to a proposal from the Housing Policy Council.