The mortgage industry wants HUD to reconsider its proposal to recodify the 2013 disparate-impact theory as it predates and is inconsistent with binding Supreme Court precedent.
A continuing shortage of housing inventory makes it more important than ever that sellers and real estate agents understand how quickly VA loans can close. At least, that’s what VA lenders believe.
A Delaware Superior Court ruled that ACE American Insurance Co. must advance nearly $18 million to Guaranteed Rate on a claim the lender filed for defense costs related to allegations it violated the False Claims Act.
Key metrics reviewed in HUD’s single-family default monitoring system showed that residential servicers generally complied with HUD’s forbearance reporting requirements for FHA loans.
In comment letters already submitted, mortgage servicers and credit unions warned that proposed capital requirements could force some entities out of the Ginnie market and drive up the costs of loans.
If confirmed, FHA nominee Julia Gordon’s first task will be to manage borrower exits from COVID-related forbearance programs that start this fall. However, her confirmation is unlikely to happen before September.
Democrats on the Senate Banking Committee want the next FHA commissioner to revisit an Obama-era policy that keeps distressed properties out of the reach of individual home buyers.
Two waivers address concerns that requiring re-reviews of which borrowers were eligible for foreclosure prevention options could take focus away from loss-mitigation efforts.
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