FHA Issues Waiver of Property Inspections in Disaster-Stricken California Counties. FHA has issued a waiver of its timing policy for completing property inspections prior to closing or endorsing a loan for FHA insurance. The waiver is in effect in presidentially declared major disaster areas in Lake and Shasta Counties, CA, that were ravaged by wildfires and high winds. FHA believes that the wildfires and high winds have stabilized so as not to cause any further damage to properties, even though FEMA has not declared “all clear” in the affected areas. The waiver allows damage inspections to be completed after Oct. 2, for properties located in the PDMDA. NC Commissioner of Banks Amends State Reverse Mortgage Rules. The North Carolina Commissioner of Banks recently amended its ...
A few months back, the Federal Housing Finance Agency ordered Fannie Me and Freddie to end their involvement in SFR financial arrangements. However, any deals in progress were allowed to close...
Fannie Mae and Freddie Mac turned in a solid gain in single-family production during the third quarter of 2018, according to an exclusive ranking and analysis by Inside Mortgage Finance. The two government-sponsored enterprises issued $213.81 billion of new single-family mortgage-backed securities during the third quarter, a solid 10.4 percent increase from the previous three-month period. At $592.02 billion in production through the first nine months of ... [Includes three data charts]
Mortgage insurance companies reported they expect to be in compliance with updates to private MI eligibility requirements for doing business with Fannie Mae and Freddie Mac that were released late last week. The final version of PMIERs 2.0 will take effect on March 31, 2019, and analysts agree that other than a few tweaks, they aren’t terribly different than the original proposal. Since 2015, the U.S. Mortgage Insurers said, PMIERs have nearly doubled the amount of capital each mortgage insurer ...
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