“While this flexible approach is generally beneficial for lenders and consumers, it does produce some uncertainty over what will be considered ‘good faith’ or ‘material,’” according to attorneys at the law firm of Buckley Sandler.
The Government Accountability Office, in a new report, urged Congress to specify the economic conditions it believes the FHA mortgage insurance fund can withstand without supplemental funds.
Mortgage lenders and servicers chalked up a win following a federal appeals court decision that would make it harder for the government and whistleblowers to pursue a claim under the False Claims Act.
Lenders continue to be hit with steep False Claims Act penalties despite assurances by Housing and Urban Development Secretary Ben Carson that he would address the FCA issue.
The Department of Housing and Urban Affairs plans to act on two new rules in 2018 relating to allowable fees and charges on VA loans as well as the type of loans that are “qualified mortgages.”
FHFA's Mel Watt: "While it is apparent that a draw will be necessary for each enterprise if tax legislation results in a reduction to the corporate tax rate, FHFA considers the $3 billion capital reserve sufficient to cover other fluctuations in income in the normal course of each Enterprise’s business.”
Mel Watt continued: “We, therefore, contemplate that going forward enterprise dividends will be declared and paid beyond the $3 billion capital reserve in the absence of exigent circumstances.”
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