Proposed changes to the Section 502 Direct Home Loan and Grant Program would improve flexibility and make the DHLGP accessible to more low- and very-low-income rural borrowers.
Implementing a provision in the Blue Water Navy Vietnam Veterans Act, the guidance would allow a VA fee-panel appraiser to provide property valuation based solely on information provided by an entity with which it has a service agreement.
The department has recommended a scorecard to ensure FHA borrowers re-ceive financing that is appropriate and sustainable for long-term homeowner-ship. Meanwhile, the Treasury has outlined the new role Fannie Mae and Freddie Mac would play in a revamped housing-finance system.
Federal prosecutors have charged the top executive of defunct reverse-mortgage lender Live Well Financial for allegedly masterminding a $140 mil-lion bond fraud involving Home Equity Conversion Mortgage loans.
The agency has issued interim instructions for obtaining an FHA case number for a unit in an unapproved condominium project that will be processed as a single transaction.
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