At the National Association of Hispanic Real Estate Professionals conference this week, FHA Commissioner Julia Gordon said FHA financing becomes increasingly important as interest rates rise.

Comments are due May 6 to address a change in language on the proposed rule, which was first issued in November 2022.

President Biden’s fiscal year 2025 budget request includes a proposal for mortgage tax credits for first-time homebuyers as well as those who sell starter homes.

VA lenders can now apply an assumption locality variance on loan assumptions. The MBA called for an even higher fee.

VA extends rescission date for circular on expanding home loan eligibility based on certain National Guard service; FHA issues mortgagee letter for Section 232 residential care facility mortgage insurance program; HUD allocates $70 million to 38 tribal communities; USDA updates guidelines on obtaining a payoff for a guaranteed loan mortgage recovery advance; HUD’s Office of Housing Counseling announces $10 million grant.

After years of lobbying by the mortgage industry, Congress gave Ginnie Mae’s budget a boost for fiscal year 2024.

President Joe Biden last week proposed a mortgage tax credit of $400 a month for up to two years to help borrowers buy their first homes.

FHA Commissioner Julia Gordon said FHA loans don’t take longer to close than other loans.

Lower-income households with mortgages have to make difficult budget choices to accommodate the resumption of student loan payments, new research showed. Overall, though, the payment restart is expected to have modest effects on mortgage performance.

According to an analysis by Inside MBS & ABS, $1.88 billion of VA rate/term refinance loans were included in Ginnie MBS issued in February 2024, compared with $298.5 million in January.