The final rule will allow lenders to disburse up to 1% of FHA-endorsed multifamily construction loan proceeds before borrower-provided funds are fully exhausted.
The Mortgage Bankers Association noted some notices of violation sent by HUD’s Mortgagee Review Board seek civil monetary penalties for violations of the National Housing Act, and others mention other administrative actions.
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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