The House Committee on Financial Services last week marked up legislation that would devote $322 billion in funding to affordable housing, including for a pilot program to expand small-dollar lending options for homes that cost up to $100,000.
Refinances made up nearly 50% of the reverse mortgages originated in the second quarter of 2021. Overall volume in the HECM market increased in the first six months compared to the same period a year earlier. (Includes two data charts.)
Ginnie extends certain COVID-related exemptions; VA introduces new API; FHA upgrades its tech platform; FHA to host session for nonprofits that want to bid on distressed properties; FHA announces lender recertification training session; and NAR says student debt dampening homebuying among millennials.
The Department of Labor is developing a temporary standard that will require employers with 100 or more employees to ensure all workers are vaccinated against COVID or show a negative test at least once a week.
As federal regulators consider ways to oversee how mortgage lenders disclose climate change risk to borrowers, industry participants warned of unintended consequences if the rules aren’t carefully crafted.