RHS extends Section 502 subsidy pilot program; Rural Development seeks applications for 2023 community development program; FHA promotes 203(k) rehab loans; Nutter shutters; MBA names affordable homeownership advisory council members; Chase launches VA purchase closing cost benefit.
The Mortgage Bankers Association suggested FHA reinstate a mortgage lender’s option to document a borrower’s previous work history through a verbal verification of employment, among other recommendations.
Ginnie Mae President Alanna McCargo said she’s hopeful the one-year extension of the implementation deadline for Ginnie’s new risk-based capital requirements will give its nonbank issuers room to breathe and time to consider their restructuring.
Industry trade groups want Ginnie Mae to continue making changes to its risk-based capital requirements for nonbank issuers during the extended implementation period.
Ginnie eyeing permanent emergency credit facility for nonbanks; USDA to hold training sessions on Guaranteed Underwriting System; home equity among seniors hits new record; Ginnie plans temporary business outage; Mortgage Bankers Association rustles support for VA appraisal bill; USDA expands Native American Relending Pilot program.
Actions are speaking louder than words as mortgage industry-sponsored political action committees make contributions in the runup to the mid-term election.
The government guarantor is considering making its pandemic-era pass-through assistance program credit facility for nonbanks permanent. And it comes at a pressing time.