The mortgage industry is applauding the passage of a False Claims Act amendment that would address language in a previous version that could have led to unintended consequences for FHA and VA lenders.
FHA Principal Deputy Assistant Lopa Kolluri discussed the home equity conversion mortgage program and return-to-work at the National Reverse Mortgage Lenders Association’s annual convention.
FHA/VA loans in COVID-19-related forbearance continue to drop; VA updates eligibility rules on specially adapted housing grants; HUD plans a fair housing event; Ginnie non-agency early buyout securitization planned; VA to host advisory committee meeting on homeless veterans.
FHA extended forbearance by another six months on recent additions to the recovery program and proposed a 40-year loan modification as a loss-mitigation option.
The House Committee on Financial Services last week marked up legislation that would devote $322 billion in funding to affordable housing, including for a pilot program to expand small-dollar lending options for homes that cost up to $100,000.
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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