The MBA was part of a trade group coalition that called on the VA to align minimum property requirements with standards already established by the GSEs.
Department of Housing and Urban Development Chief of Staff Julienne Joseph this week provided an update on anticipated policy changes to the FHA single-family home loan program.
The average credit score for an FHA loan delivered into Ginnie Mae mortgage-backed securities increased in 2023, while average scores for VA loans didn’t budge. (Includes two data tables.)
VA borrowers could stand a better chance when bidding for a home if the agency’s minimum property requirements are aligned with GSE standards, according to mortgage lenders.
The Supreme Court in a unanimous decision last week ruled that federal home loan agencies are not immune from civil monetary penalties for violations of the Fair Credit Reporting Act.
Loans to communities ranked with a high social vulnerability index made up roughly 22% of Rural Housing Service-guaranteed single-family home loans in the fourth quarter of 2023. (Includes data table.)
Rep. Member Maxine Waters, D-CA, urged Congress to pass the housing package that had been part of an earlier session’s Build Back Better bill; MISMO launches working group for federal housing agency dataset to support servicers; VA updates COVID-19-era loss-mitigation support; VA extends rescission date for assisted appraisal processing program; USDA raises appraisal fee for direct loans; USDA announces limited waiver for SFHGL servicers.