Congressional lawmakers next week are expected to take up legislation meant to finalize fiscal 2024 funding bills before the latest continuing resolutions lapse.

Top Congressional leaders have announced a deal on six bills that will fund several federal agencies, including HUD, USDA and VA.

Facing criticisms that borrowers would intentionally default to qualify for VA’s upcoming loan-modification program, the agency noted that nearly 90% of its home loan portfolio is at a 2.5% to 3% coupon.

The MBA was part of a trade group coalition that called on the VA to align minimum property requirements with standards already established by the GSEs.

The change to foreclosure rules in New York was enacted by legislation, while updates in Maine and Alabama were based on court rulings.

While FHFA didn’t provide details, lenders believe the agency wants the GSEs to coordinate their mortgage repurchase request policies.

The bill seeks to provide VA borrowers a partial claim loss-mitigation option to use after they exit a forbearance.

The MBA is taking its concerns about rising costs associated with obtaining credit scores to the FHFA, CFPB and FTC. A CFPB official said the regulator is willing to consider looking into the issue.

As more companies experience cybersecurity breaches, internal user training is essential to ensure critical user data is protected.

President Biden late last week signed a short-term continuing resolution to keep federal agencies open through March 1.