White House releases budget request; MBA seeks clarifications from FHA on expanded COVID loss-mitigation options; MBA asks VA to consider appraisal-related policy reforms; HUD finalizes rule removing LIBOR as approved index for FHA ARMs; House bill seeks to make permanent mortgage insurance premium tax deduction.
Will lower FHA premiums steal market share from the GSEs? According to analysts, private mortgage insurer pricing still makes the GSEs the better execution for borrowers with credit scores over 680. But private MIs are still nervous.
The racial homeownership gap between Black and white Americans continues to persist, according to a report released this week by the National Association of Realtors.
RMK Financial/Majestic Home Loans has been permanently banned from the mortgage business for violating terms of an earlier consent order in which the lender agreed to cease its deceptive advertising practices.
FHA is cutting annual mortgage insurance premiums, effective March 20. Lenders are seeking operational clarity on loans already in the origination pipeline.