Four trade groups, including the Mortgage Bankers Association, are asking the White House’s National Economic Council to support a reduction in FHA mortgage insurance premiums.
The trade group is backing a three-step loss-mitigation waterfall suggested by a former Ginnie president that would not require an actual buyout of the loan or an increase in the note rate.
Documentation on student loan debt forgiveness will be a key factor in the underwriting process for homebuyers benefiting from the recently announced debt relief program.
Changes in the housing market and economic outlook could impact how FHA officials consider whether, when and how to make changes to FHA’s mortgage insurance premium.
Julia Gordon is on track to be confirmed after the Senate last week voted 51-50, with VP Harris casting the tiebreaker, to enable consideration of her nomination as FHA commissioner on the Senate floor.