House Discusses Assistance for First-Generation Homebuyers March 26, 2021 Maria Volkova A downpayment assistance bill, which is still just a “discussion draft,” has the potential to provide $20,000 to first-generation homebuyers.Read More
CRL Seeks Equitable Distribution of $10B Homeowner Fund March 26, 2021 Maria Volkova Equity in their homes isn’t enough to prevent many borrowers from losing their house to foreclosure, according to the CRL.Read More
HECM Endorsements Sharply Up in 3Q20 December 23, 2020 Namrata Bhatia Home Equity Conversion Mortgage production increased 19.6% in the third quarter and a whopping 56.9% through the first nine months of 2020.Read More
FHA Catalyst Platform Can Now Accept all Digital Claims December 23, 2020 Maria Volkova New claim types available: the Claims Without Conveyance of Title and the COVID-19 National Emergency Standalone Partial Claim.Read More
Around the Industry December 23, 2020 FHA revises URLA form; MI premium tax deduction extended; CFPB warns about HECM scams.Read More
DOJ Files Suit Against HECM Lender for Faulty Underwriting October 2, 2020 Maria Volkova Nutter Home Loans is accused of trying to bolster reverse mortgage originations by using unqualified underwriters.Read More
HUD Extends Flexibilities for Employment Re-verification July 10, 2020 Maria Volkova Lenders don’t have to provide re-verification of borrower employment to HUD within 10 days of the mortgage note.Read More
HECM Production Spikes in 1Q But Sees a Sharp Drop in April June 26, 2020 Namrata Bhatia Reverse mortgage lenders pumped out $3.87 billion in the first three months of 2020. But originations took a big step back in April due to COVID-19. (Includes two data charts.)Read More
Waters Proposes Alternatives to FHA, GSE Forbearance Fees June 26, 2020 Paul Muolo HFSC Chair Maxine Waters rebuked FHA and FHFA for policies she said would unfairly penalize those lending to minority borrowers.Read More
NAR Urges FHA Not to Hike Mortgage Insurance Premiums May 1, 2020 Maria Volkova The powerful trade group urged FHA not to increase insurance premiums in order to address risks related to COVID-19 forbearance. Read More
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