The U.S. Department of Agriculture plans to make it mandatory for lenders to use its guaranteed underwriting/loan closing system for all single-family loans.
One option places past-due mortgage amounts in separate junior liens of up to 30% of the outstanding. The lien is repayable when the mortgage ends, which is usually when a borrower refinances or sells their home.
If HUD implements its proposed final disparate impact rule, exceeding its authority, it could be a challenged under the Administrative Procedure Act, according to an industry attorney.
Changes to FHA’s claims without conveyance of title procedures include updated appraisal requirements and enhanced discounts applied to appraised values.
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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