The Homebuyers Assistance Act of 2021 amends the National Housing Act to allow state-licensed professionals to conduct appraisals for FHA-insured properties.
Two separate bills aim to improve the mortgage process for borrowers who have a limited proficiency of English and to combat discrimination in the consumer marketplace.
The Housing Financial Literacy Act and the Improving FHA Support for Small Dollar Mortgages Act are both aimed at making homeownership more affordable for borrowers.
The Biden administration throws its support behind the Neighborhood Homes Investment Act, which, if passed, would fund the construction and rehabilitation of affordable homes.
Brian Montgomery, former HUD deputy secretary, urged the Biden administration to focus on issues such as forbearance. A pandemic is not the time for “heavy-handed enforcement,” he said.
Mat Ishbia, CEO of UWM, said the wholesaler consulted internal and external counsel before making the decision and that there are no concerns. However, industry insiders think otherwise.