The mortgage industry’s warnings that the restrictions placed on the GSEs would tighten credit availability for less qualified borrowers were not lost on the Biden administration.
Homeowners in manufactured housing communities will no longer have to relocate their house before selling it. Also, the seller will have the right to sublease the pad site to the new owner.
Although most housing advocates applauded the Supreme Court’s Collins decision, shareholders argue the justices ignored key points. Nevertheless, legal experts say there’s little chance the plaintiffs will prevail when the case returns to circuit court.
A recent report from the Congressional Research Service suggests that it may be difficult to simultaneously raise the capital requirements for the GSEs and shrink their footprint, and still expect them to attract equity investors.