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.
Ginnie Mae said it supports HUD’s efforts seeking legislation that would provide a permanent source of capital for housing finance agencies fostering affordable multifamily housing.
Alternate finance options make homeownership possible for first-time buyers unable to access traditional home loans, but more protections are needed to foster sustainable homeownership, according to industry experts.
While credit unions will be treated on par with banks, state housing finance agencies will be fully exempted from capital requirements imposed on those participating in the Ginnie MBS program.
Lenders want FHA to increase the limit on fees they can charge for processing an assumable mortgage, a product expected to gain popularity in the coming months.