UnidosUS said a new initiative will use policy advocacy and ground-level services such as housing counseling to close the Latino homeownership gap.

The Department of Housing and Urban Development wants all new or substantially renovated homes insured by FHA to be elevated an additional two feet above base flood elevation.

The FHA has more than a dozen final or proposed rules lined up for action over the next 12 months. The agenda includes rules to modernize engagement with mortgagees in default and to update requirements for firms that invest in FHA mortgage servicing.

The VA’s Steve Varlas spoke about tech modernization at the Mortgage Industry Standards Maintenance Organization’s spring summit in Portland, OR.

FHA this week announced a new language access web page with key single-family home mortgage documents and educational resources translated into Spanish, Chinese, Korean, Tagalog and Vietnamese.

Mortgage servicers didn’t always sufficiently comply with FHA loss-mitigation requirements for borrowers whose COVID-19-related forbearance had ended, the inspector general for the Department of Housing and Urban Development said this week.

Ingrid Ripley, executive director of USDA RD’s single-family home guarantee program, said construction lending and manufactured housing loans will help address the housing supply issue in rural America.

Ginnie extends e-Sign use; HUD OIG to testify before congressional committee; FHA Catalyst claims module will require new user information; USDA updates single-family housing handbook; HUD lifts cap on multifamily loans for low-income housing tax credit pilot.

Change Mortgage’s unique approach to underwriting for underserved communities has earned the CDFI its first AAA-rated security.

The share of no- or sub-ratio loans in the DSCR space rose to 43.7% in the first quarter of 2023, according to DBRS. A ratio of less than 1.0 indicates monthly rent doesn’t fully cover loan payments.