Brian Montgomery, former HUD deputy secretary, urged the Biden administration to focus on issues such as forbearance. A pandemic is not the time for “heavy-handed enforcement,” he said.
During her confirmation hearing, the Ohio congresswomen faced strong criticism for her lack of experience in housing policy and past comments about Republicans.
Mat Ishbia, CEO of UWM, said the wholesaler consulted internal and external counsel before making the decision and that there are no concerns. However, industry insiders think otherwise.
One of the objectives of the REO program is to strengthen neighborhoods and communities through alternative sales programs. However, the FHA “lacks metrics and targets” to successfully do so, the Government Accountability Office said in a recent report.
The American Rescue Plan provides $10 billion to help consumers catch up on mortgage payments or pay other housing-related costs. However, how the money is allocated will depend on states.
The general consensus among private mortgage insurers is that a potential cut to FHA mortgage insurance premiums will have little impact on their business.
If HUD moves to preserve the 2013 disparate-impact rule, the National Association of Mutual Insurance Companies said it will likely continue its legal challenge.
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