The Urban Institute has called on federal housing agencies to accommodate automated valuation models as their starting points, with human appraisers checking the accuracy of the data as a back-up.
The National Consumer Law Center said FHA should reform its home equity conversion mortgage program to reduce the number of so-called preventable foreclosures.
By targeting price cuts at low-FICO score and high-LTV borrowers, the new pricing grids of Fannie Mae and Freddie Mac could increase market overlap with FHA.
The VA is adding a step to its appraisal bias detection procedures. Meanwhile, the National Association of Realtors told the agency not to rush its appraisal modernization efforts.
The Farm Credit Administration is considering updates to the capital requirements for Farmer Mac, a government-chartered securitization company. The changes would be made to bring the rules up to date with recent changes at other agencies.
Looser pooling requirements for delivering reperforming loans to Ginnie; FHA revises policy handbook; FHA updates instructions for use of GSE model forms; FHA hiring; VA revises various forms; VA offers loan review API; CHLA calls for permanent PTAP; RHS proposes loosening loss-mitigation standards.
If the largest servicer of HECMs couldn’t handle the financial burden posed by mandatory buyouts of the loans, what hope is there for others? FHA is being urged to make changes to HECM policies. (Includes data chart.)
Proposed updates to rules governing VA interest rate reduction refinance loans drew asks from VA lenders and trade groups around loosening eligibility requirements for borrowers to maintain access to the product. (Includes data chart.)
A Ginnie SVP allegedly leaked information regarding an agency issuer to a private-sector firm, breaking the rules. A referral was made to the DOJ, but nothing ever came of it. Details? There aren’t many.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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