With the National Flood Insurance Program scheduled to lapse at the end of the month, Realtors are urging House lawmakers to consider legislation to reauthorize the program through September 2024.
The lifting of the sanctions comes amid a recent report by Bloomberg that New Day Chairman Emeritus Joe Murin might be a candidate to be the next permanent president of the government guarantor.
The department has recommended a scorecard to ensure FHA borrowers re-ceive financing that is appropriate and sustainable for long-term homeowner-ship. Meanwhile, the Treasury has outlined the new role Fannie Mae and Freddie Mac would play in a revamped housing-finance system.
The Treasury has recommended Congress empower Ginnie Mae to provide “last position” guarantee on MBS backed by conventional home loans and au-thority to adjust its guarantee fee.
Despite a legal setback, the department said it intends to proceed with a for-mal rulemaking on downpayment assistance provided by government entities. This time, though, with proper notice to stakeholders.
Federal prosecutors have charged the top executive of defunct reverse-mortgage lender Live Well Financial for allegedly masterminding a $140 mil-lion bond fraud involving Home Equity Conversion Mortgage loans.
Overall, 42.8% of government-backed loans originated in 2018 were sold to unaffiliated non-agency buyers, according to recently released Home Mortgage Disclosure Act data. The majority of sellers with at least $1.0 billion in sales were nonbanks.