Thousands of rural multifamily rehabilitation loans have become ineligible for a Ginnie guarantee due to USDA’s reformed interpretation of its subordinate-lien policy.
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.
USDA lenders ramped up production in the third quarter of 2019 with a strong boost from purchase originations. More than 50% of total USDA originations were from correspondents. USDA servicing volume was up slightly from a year ago.
New York state agencies against HUD’s proposal on disparate impact rule; USDA warns customers of fraudulent calls; FHA provides training material for implementation of FHA-insured condo financing rules.
The Treasury has recommended Congress empower Ginnie Mae to provide “last position” guarantee on MBS backed by conventional home loans and au-thority to adjust its guarantee fee.
Ginnie, other agencies discuss efforts to modernize technology and business platforms to conform with the digitized, paperless mortgage market and deliver faster, efficient service.
It will be the 11th issuance of its type by loanDepot.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.
RSS