The trade group is backing a three-step loss-mitigation waterfall suggested by a former Ginnie president that would not require an actual buyout of the loan or an increase in the note rate.
RHS finalizes new rule for single-family loan program; HUD to require unique entity identifier for FHA lenders; USDA to update guidance on default status codes; MISMO announces enhancement for industry loan application dataset; USDA introduces four new forms; HUD awards housing counseling grants.
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.
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.
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.
Habitat for Humanity CEO Jonathan Reckford called on the group’s affiliates and other nonprofits to make new efforts to partner with USDA to improve homeownership in rural areas.
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