Department of Housing and Urban Development Chief of Staff Julienne Joseph this week provided an update on anticipated policy changes to the FHA single-family home loan program.
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The average credit score for an FHA loan delivered into Ginnie Mae mortgage-backed securities increased in 2023, while average scores for VA loans didn’t budge. (Includes two data tables.)
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VA borrowers could stand a better chance when bidding for a home if the agency’s minimum property requirements are aligned with GSE standards, according to mortgage lenders.
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The Supreme Court in a unanimous decision last week ruled that federal home loan agencies are not immune from civil monetary penalties for violations of the Fair Credit Reporting Act.
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Loans to communities ranked with a high social vulnerability index made up roughly 22% of Rural Housing Service-guaranteed single-family home loans in the fourth quarter of 2023. (Includes data table.)
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Rep. Member Maxine Waters, D-CA, urged Congress to pass the housing package that had been part of an earlier session’s Build Back Better bill; MISMO launches working group for federal housing agency dataset to support servicers; VA updates COVID-19-era loss-mitigation support; VA extends rescission date for assisted appraisal processing program; USDA raises appraisal fee for direct loans; USDA announces limited waiver for SFHGL servicers.
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