FHA wants to streamline policies allowing mortgage servicers to implement alternatives to foreclosure and update its incentive payments for the successful completion of a loss-mitigation option.
Large bank correspondent aggregators of FHA mortgages looked to firm guidelines on credit scores and LTV ratios while Fed researchers found that smaller nonbank lenders were willing to go down in credit and loan performance didn’t suffer.
The U.S. Department of Agriculture plans to expand the options borrowers would have in using Rural Housing Service home loan programs for the purchase or renovation of manufactured housing.
White House backs conversion of commercial properties to residential housing; Community Home Lenders of America supports FHA move streamlining procedures following a loan case cancellation; HUD announces notice of sale of reverse mortgage notes; FHA extends disaster-related foreclosure moratorium in Maui; FHA manufactured housing appraisal requirements.
Officials from FHA, VA and USDA spoke about their plans to promote affordable homeownership at the Mortgage Bankers Association’s annual convention this week.
FHA Commissioner Julia Gordon this week returned to her hometown of Philadelphia to address attendees at the Mortgage Bankers Association’s annual convention.
HUD to host hearing on appraisal bias; bipartisan Senate bill to inform veterans of home loan benefits introduced; USDA updates handbook; Ginnie Mae allows commingling in Platinum pool types; HUD expands funding for loans and grants in its Green and Resilient Retrofit Program; VA reduces premiums for Veterans’ Mortgage Life Insurance program.
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