The government-sponsored enterprises recently intensified efforts to help borrowers in rural areas qualify for a mortgage as part of their “duty-to-serve” markets where credit is scarce. Freddie Mac launched an employment program in high-needs regions and Fannie Mae has a new program targeting owners of manufactured homes.
Housing and Urban Development Secretary Ben Carson this week reiterated concerns about riskier FHA loans that could endanger the health of the program’s Mutual Mortgage Insurance Fund.
“There is potential for them to issue more guidance, and we hope it to be the right guidance that’s consistent with 40 years of the RESPA law,” said Kenneth Trepeta…