Demand for reverse mortgages has grown in recent years, with more expansion expected in 2022 for both FHA home-equity conversion mortgages and proprietary reverse loans.
FHA servicers must inform their borrowers of any relevant state Homeowners Assistance Fund programs if they’re reviewing a COVID-19-related loss mitigation.
Potential owner-occupants, along with nonprofits and government entities, will soon get more time to bid on HUD real estate-owned single-family homes before they are available to investors.
California continued to have a solid lead in originations of home-equity conversion mortgages in the first nine months of 2021. (Includes two data charts.)
An Illinois appeals court vacated a summary judgment in favor of Fifth Third Mortgage Co. that led to the foreclosure sale of a couple’s home and remanded the case to a circuit court.
FHA raises loan limits for 2022; VA announces new maximum allowable legal fees; FHA extends use of alternative methods for face-to-face interviews with borrowers; Ginnie extends the use of alternative audit procedures; FHA is hiring; Mr. Cooper sells reverse servicing portfolio; Ginnie Mae to host a webinar on its single-family pool delivery module.
In an effort to reinforce its commitment against racial bias in home valuations, FHA updated its general appraiser requirements. An interagency task force discussed the issue this week.
First-time homebuyers seeking loans backed by FHA, VA or the Rural Housing Service are among those eligible for the DPA program under the Build Back Better Act.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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