Community mortgage lenders are asking FHA to drop its life-of-loan premium policy that requires borrowers to pay annual mortgage insurance premium until their loan is fully paid.
HUD inspector general was unable to sign off on HUD’s and Ginnie Mae’s 2019 financial statements due to a lack of evidence that past accounting weaknesses and issues have been satisfactorily resolved.
An Urban Institute study has called for uniformity among Fannie, Freddie, FHA, VA and USDA when considering student-loan debt in mortgage underwriting.
Finance of America Reverse has announced a new offering backed by active, first-lien Home Equity Conversion Mortgage loans purchased from Ginnie Mae pools and other third parties.
A bipartisan group of lawmakers has urged House leadership to stop further hikes in VA home-loan funding fees to pay for non-housing veteran benefits. The spending on future veterans’ benefits should be shared by all Americans or paid through direct appropriation of funds, they say.
New York Governor Andrew Cuomo signed into law a bill prohibiting deceptive advertising and marketing of Home Equity Conversion Mortgage loans. The law takes effect March 5, 2020.
Borrower demand for FHA-insured loans was strong in the third quarter due to low interest rates. Not surprisingly, refinance activity, streamline refinancing in particular, provided the boost.
RSS