Unison offers its first HEA securitization; NP rebrands; Finance of America launches new reverse-mortgage product; Sherman Bridge debuts investment-property lender marketplace; Arc Home appoints new president and future CEO; UWM expands DSCR eligibility requirements.
The Department of Housing and Urban Development plans to make permanent a pandemic-era waiver that allowed housing counselling agencies to use alternative communication methods.
A new proposal from FHA would expand the list of funding sources borrowers could use to meet their monetary investment requirements under the HECM for purchase program.
FHA wants to streamline policies allowing mortgage servicers to implement alternatives to foreclosure and update its incentive payments for the successful completion of a loss-mitigation option.
The U.S. Department of Agriculture plans to expand the options borrowers would have in using Rural Housing Service home loan programs for the purchase or renovation of manufactured housing.
White House backs conversion of commercial properties to residential housing; Community Home Lenders of America supports FHA move streamlining procedures following a loan case cancellation; HUD announces notice of sale of reverse mortgage notes; FHA extends disaster-related foreclosure moratorium in Maui; FHA manufactured housing appraisal requirements.
An increase in net expenses in the third quarter cut profits at Fannie Mae and Freddie Mac despite an uptick in revenue for the quarter. (Includes data table.)
The new ABS, comprised of prime auto loans, is a portion of a security Ally privately issued in March. Ratings firms said the deal had a weaker pool composition than previous Ally securitizations.
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