Corrections to 2017 Nationwide Forward Mortgage Limits. The FHA found some errors in the previously announced 2017 nationwide loan limits for forward loans.The error in Mortgagee Letter 2016-20 pertains to an incorrect limit ceiling for Alaska, Hawaii, Guam? and the U.S. Virgin islands, which are identified as “special exception areas” due to higher construction costs in these areas.FHA will issue another mortgagee letter announcing the correction in special exemption areas in the future. The agency further noted corrections to the List of Increased Loan Limits CY16 to CY17 chart, which has been updated to reflect the correct loan limits for 2017. FHA is urging lenders to discard any previous versions. Requirements for Notification, Evaluation and Reduction of Lead-Based Paint Hazards in VA Properties. The Department of Veterans Affairs has updated guidance governing lead-based paint and/or hazards caused by lead-based paint in federally-owned housing under private management. The guidance updates and implements changes that have occurred since the rescission of the last guidance in 2004. Use of E-Signatures in VA-Guaranteed Home Loans Extended for Two More Years. The VA has extended the use of electronic signatures in ...
The FHA commissioner in the Trump White House will have final say on the key issue of adjusting FHA premiums and loan sizes, and likely would have input on GSE reform.
In case you’re not keeping tally, there are roughly 387 calendar days remaining before the “capital buffer” at Fannie and Freddie falls to zero on Jan. 1, 2018.
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