HUD issues guidance on mortgage advertising; UWM expands title services for brokers; Freedom issues debt; Incenter offers review services for taxes and insurance; most housing inventory in Florida, Texas.
A lender’s reconsideration of valuation process must include disclosure to the borrower at the point of a loan application and again when the borrower receives the appraisal.
The Biden administration’s fiscal year 2025 budget request allocates $72.6 billion for HUD, which is higher by about $500 million from the FY23 enacted level.
The guidelines lay out the process lenders must develop for borrowers to request an appraisal reassessment when they believe a valuation was inaccurate or biased.
The Department of Housing and Urban Development’s Adrianne Todman last week made her first appearance before the Senate Banking and Housing Committee as acting secretary.
Alanna McCargo, the outgoing Ginnie Mae president, is receiving praise for achievements, including obtaining a significant boost in funding from Congress.