The most popular option is when another veteran assumes the VA loan and trades the benefit eligibility, said John Bell, executive director of VA’s Loan Guaranty Service.
Housing counselors can play a greater role in helping delinquent borrowers understand the menu of loss-mitigation tools, according to trade group and government officials speaking at a recent HUD conference.
Sen. Jon Tester, D-MT, chair of the Senate Veterans’ Affairs Committee, and Sen. Mike Rounds, R-SD, recently introduced the Native American Direct Loan Improvement Act to boost homeownership among Native Americans.
Ginnie supports FHA multifamily risk-share initiative; rulemaking on private flood insurance for FHA borrowers moving forward; webinar on student loan debts and mortgage underwriting; the Community Home Lenders Association and the Community Mortgage Lenders of America merge; FHA updates multifamily guidance; VA extends recission for COVID-19 partial claim payment program; and more.
Private mortgage insurance companies are raising premiums on a targeted basis, in part so they can better manage risk in an increasingly volatile economy.
Changes in the housing market and economic outlook could impact how FHA officials consider whether, when and how to make changes to FHA’s mortgage insurance premium.
The Senate last week approved $70 billion in budgetary resources for the Department of Housing and Urban Development as part of its fiscal 2023 appropriations package.
HUD wants to increase its outreach to community development financial institutions through more frequent training webinars tailored to teaching them how to join the FHA program.
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