President Biden last weekend signed a six-bill fiscal 2024 appropriations package that includes funding for the departments of Housing and Urban Development, Veterans Affairs and Agriculture.

At the National Association of Hispanic Real Estate Professionals conference this week, FHA Commissioner Julia Gordon said FHA financing becomes increasingly important as interest rates rise.

President Biden’s fiscal year 2025 budget request includes a proposal for mortgage tax credits for first-time homebuyers as well as those who sell starter homes.

VA lenders can now apply an assumption locality variance on loan assumptions. The MBA called for an even higher fee.

VA extends rescission date for circular on expanding home loan eligibility based on certain National Guard service; FHA issues mortgagee letter for Section 232 residential care facility mortgage insurance program; HUD allocates $70 million to 38 tribal communities; USDA updates guidelines on obtaining a payoff for a guaranteed loan mortgage recovery advance; HUD’s Office of Housing Counseling announces $10 million grant.

FHA Commissioner Julia Gordon said FHA loans don’t take longer to close than other loans.

Ginnie Mae last week announced revisions to its issuer eligibility requirements to participate in its manufactured housing MBS program.

The six-bill appropriations package, which includes FY2024 funding for the departments of Housing and Urban Development and Veterans Affairs, now heads to the Senate.

The Mortgage Bankers Association has opposed the extension of the risk-sharing program, which provides capital to housing finance agencies that offer FHA loans for affordable multifamily rental properties.

Combined FHA/VA forward mortgage volume declined by 17.7% in the fourth quarter. For the full year, volume was down 19.9%. (Includes three data tables.)