HUD made several minor changes to its multifamily mortgage insurance program in the last few weeks. Mortgagee Letter 2009-22 sets forth the agency’s revised policy to grant temporary authority to multifamily hub directors to waive the “three-year rule” for section 223(f), which insures mortgage loans to facilitate the purchase or refinancing of existing multifamily rental housing...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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