Trade groups are asking HUD to eliminate the FHA certifications entirely or replace them with language indicating a lender acknowledges key FHA requirements based on loan eligibility.
The House approved bills that would reduce FHA upfront premium payments by 25 basis points and correct a drafting error that rendered certain VA loans ineligible for pooling in Ginnie Mae MBS.
Congress withdrew a provision in the Blue Water Navy Vietnam Veterans Act that would have raised the guarantee fee on VA home loans. Instead, it approved the removal of the cap on VA mortgages.
In a flurry of legislative activity, House committees passed several mortgage-related measures over the past few weeks while in the Senate, lawmakers are considering legislation that would restore eligibility of VA "orphan" loans for a Ginnie Mae guarantee.
FHA is seeking feedback on proposed changes to loan-level and annual lender certifications and the defect taxonomy to clarify lender liability under the False Claims Act.
Important tools for eliminating discrimination from the housing market are in danger of being weakened or even dismantled by the White House. Fair housing activists, to say the least, are not happy.
The Department of Housing and Urban Development has received its share of a $14.5 million settlement agreed to by Gateway Funding Diversified Mortgage Services to resolve allegations of failing to comply with FHA rules.
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