Trade groups are asking HUD to eliminate the FHA certifications entirely or replace them with language indicating a lender acknowledges key FHA requirements based on loan eligibility.
The House approved bills that would reduce FHA upfront premium payments by 25 basis points and correct a drafting error that rendered certain VA loans ineligible for pooling in Ginnie Mae MBS.
Like many other governmental housing agencies, CBC provides downpayment assistance through the Chenoa Fund to first-time homebuyers seeking to purchase a home with FHA financing.
The MBA and ABA made recommendations to strengthen practices and procedures of FHA’s loan-asset sales as the agency moves to make the program permanent.