Panelists at a Community Home Lenders of America roundtable discussed the challenges in targeting low- to moderate-income borrowers, including first-time and minority homebuyers.
State housing finance agencies want to be exempted from proposed FHA audit requirements for investing mortgagees, the National Council of State Housing Agencies said in a comment letter.
The updated guidance, which will go into effect Jan. 1, notes that housing counseling must be provided by a qualified, independent third party and not by anyone compensated by a mortgage originator or servicer.
FHA Catalyst claims module now enables bulk submissions of supplemental claims; USDA’s Rural Housing Service to release proposed rule updating eligibility requirements for non-citizens; Senate Banking Committee to hold hearing on flood insurance; HUD to hold meeting of its Housing Counseling Federal Advisory Committee.
Former Ginnie Mae President Ted Tozer wants FHA to consider adjusting or eliminating its minimum downpayment requirement to put homeownership in the reach of more consumers.
The volume of FHA loans securitized into Ginnie Mae mortgage-backed securities increased 2.3% between July and August, while VA loan production sent to Ginnie declined at a similar rate. (Includes two data charts.)