The Loan Store launches HELOC product; LendingPros debuts condotel financing solution; Carrington Mortgage introduces 40-year fixed-rate terms for non-QM products; RenoFi partners with TruStage for after-renovation-value HELOCs; WAMC merges with Terra Property Trust; UWM announces four new bank statement loan options.
The Department of Housing and Urban Development will require lenders to use a Supplemental Consumer Information Form for all FHA Title II single-family home mortgages they originate beginning in August.
Under FHA’s proposal, participating servicers would receive $1,000 in compensation, but the Urban Institute said that personnel costs would often be higher than that.
Flagstar Bank met FHA’s face-to-face requirement when it left a door hanger at the home of a borrower prior to foreclosing on the property, a state Supreme Court ruled.
The Mortgage Bankers Association proposed some revisions of its own in response to an FHA proposal to change home equity conversion mortgage disbursements and defaults.
FHA raises large multifamily loan limits; VA moves regional loan center email systems; USDA issues standardized multifamily appraisal assignment guidance; HUD opens independent Office of Manufactured Housing Programs; USDA sets new interest rates for single-family direct home loan programs; and more.
FHLB San Francisco CEO Teresa Bazemore argues that the system’s dual mandates of supporting housing and providing liquidity for FHLBank members are related.