Lenders will be asking the Department of Housing and Urban Development to clarify the eligibility of borrowers with deferred immigration status for an FHA-insured loan. A mortgage industry trade group is currently drafting a letter on “a series of technical FHA handbook recommendations,” including greater clarity on loan applications submitted by borrowers registered under the government’s Deferred Action for Childhood Arrivals (DACA) program. DACA status was offered to children who were brought illegally into the U.S. by their parents or guardians but have been in the country for most of their lives. The program was created by the Obama administration as a way for recipients to work legally in the country while Congress could agree on what to do with them. The program faces uncertainty after President Trump rescinded it in September last year as part of his administration’s zero-tolerance immigration ...
Fannie Mae and Freddie Mac continue to be significant players in the multifamily mortgage market, but some industry observers question whether the mortgage giants are doing too much in this arena and how they’re going about getting business.
Fannie Mae and Freddie Mac in a few days are expected to report second-quarter results that likely will top earnings of the prior period when they posted a combined net profit of $6.5 billion, according to an analysis by Inside MBS & ABS.
According to the newspaper, Watt – a former Democratic Congressman from North Carolina – is under investigation for alleged sexual harassment of an employee.
Fannie Mae recently announced plans to simplify its private mortgage insurance cancellation policy. In a letter that went out to lenders last week, the government-sponsored enterprise updated the different methods for verifying current property values.
RSS