Beginning Dec. 1, VA is increasing the appraisal fees of residential mortgages in its loan guarantee program in response to unprecedented demand for appraisal services.
While FHA plans to provide low-cost financing for borrowers mitigating climate hazard, Ginnie said it will consider backing housing programs with environmental, social and governance innovations.
Ginnie extends certain COVID-related exemptions; VA introduces new API; FHA upgrades its tech platform; FHA to host session for nonprofits that want to bid on distressed properties; FHA announces lender recertification training session; and NAR says student debt dampening homebuying among millennials.
Borrowers can still qualify for a VA-guaranteed mortgage even if they have gaps in employment due to COVID-19. Lenders are encouraged to use "good judgement and flexibility" while verifying a borrowers income.
The share of residential mortgages in forbearance decreased for the ninth straight week to 4.47%. Overall, 2.23 million homeowners remain in forbearance, according to the Mortgage Bankers Association.
Some 89% of default servicers expect foreclosures and real estate-owned inventories on government-insured loans to rise even though there is no major economic recession or downturn in the housing market.
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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