Enhancing exclusive listing periods of foreclosed properties for owner-occupants might have had an effect on increasing the supply of affordable homes for homebuyers despite caveats, according to the Department of Housing and Urban Development’s Office of Inspector General.
A class-action lawsuit filed against Veterans United alleges that the lender collected fees from external agents in exchange for leads, and misrepresented itself as an affiliate of the VA.
The Department of Housing and Urban Development’s Office of the Inspector General identified 64 potential fraud schemes FHA hadn’t accounted for in its single-family risk inventory.
Loans backed by FHA and the Department of Veterans Affairs have captured a larger share of the market in recent years, but the affordability crisis could hit government-insured borrowers harder.
Staffing levels at the Department of Housing and Urban Development fell in the third quarter last year, according to a report from the Government Accountability Office.
Though the value of bitcoin has dropped sharply in recent months, mortgage lenders allowing borrowers to use the crypto holding to qualify for home purchases are bullish on the product.
The $391.3 million non-qualified mortgage securitization received preliminary AAA ratings from three firms. The REIT had been selling the production primarily as whole loans until now.
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