The trade group urged the Department of Housing and Urban Development to roll back the minimum debt service coverage ratio and raise the maximum loan-to-cost ratios for FHA’s multifamily loan program.
Originations increased across mortgage products in the second quarter. The conventional-conforming sector’s market share held steady while government-insured lending lost some share. (Includes data tables.)
Ginnie Mae issuers produced $38.15 billion into mortgage-backed securities in July, an 8.3% increase from the previous month. (Includes two data tables.)
The case revolved around a property in Brooklyn, NY, with a reverse mortgage dating back to February 2007 and whose owner died in February 2013. The borrower’s estate challenged the foreclosure, arguing that it was past the statute of limitations.
A California-based real estate professional admitted to conspiring to originate 102 home loans worth more than $55 million using false and fraudulent loan application information.
Vice President Kamala Harris outlines economic agenda for her presidential campaign; ex-FHA official joins M&T Bank; VA outlines secondary borrowing requirements when using assumable mortgages; FHA drafts guidance on loss-mitigation consultation requirements.