In a bid to bring 100,000 new affordable homes to market for purchase or rent in the next three years, HUD will limit the sale of certain FHA-insured and HUD-owned properties to institutional investors.
As part of FHA’s ongoing outreach to industry, Julienne Joseph, deputy assistant secretary for single-family housing, released a video answering servicers’ questions on COVID-19-related loss-mitigation options.
The Environmental Protection Agency recommended the VA Home Loan Program promote clean energy, sustainable water systems and other green building techniques in new builds and rehabilitations.
Servicers can temporarily offer repayment plans to HECM borrowers regardless of their total outstanding arrearage. Also, servicers no longer have to wait for three years before seeking an assignment of a HECM they have cured with their own funds.
The gender gap in homeownership has shrunk drastically since 1990, but the pandemic threatens to erase this progress, particularly among the most vulnerable and families with children, Urban Institute researchers said.
The number of home mortgages in active forbearance falls; the Federal Insurance Office seeks information on climate-related financial risks for the insurance sector; FHA is hiring.
In a statement, bank CEO Charlie Scharf said, “Building an appropriate risk and control infrastructure has been and remains Wells Fargo’s top priority. The OCC’s actions today point to work we must continue to do to address significant, longstanding deficiencies.”
One given: Profit margins (gain-on-sale) are still coming under pressure compared to the first quarter as well as last year. But as most everyone readily acknowledges, 2020 was a profit aberration...
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