New Report: Over Half of Flawed FHA Loans Were Cured August 1, 2018 George Brooks Roughly 59.8 percent of the reviewed loans were initially deemed unacceptable. Read More
Short Takes: Treasury Department Makes Recommendations on the FCA / A Strong Showing by Arch MI / Synergy One Looks to Add Loan Officers / Under a GOP FHFA Director, the Conservatorships Will End / Churchill Mortgage Names Regional Managers August 1, 2018 George Brooks and Paul Muolo A prediction: “Watch for an end to the GSE conservatorships under a Republican Director at the FHFA... Read More
USDA to Charge Lenders ‘Tech Fee’ for Use of AU System July 31, 2018 George Brooks HUD has been trying unsuccessfully to obtain authority from Congress to charge a similar fee to modernize its aging information technology systems…Read More
Legislative Roundup: House Reauthorizes NFIP, More Changes to ‘Points and Fees’ Definition July 26, 2018 George Brooks The revised definition excludes from points-and-fees any compensation included in the interest rate…Read More
The Mortgage Industry May Have a DACA Problem. FHA Says Don't Make Loans to Illegals July 19, 2018 George Brooks A HUD spokesman told this news organization that “non-U.S. citizens without lawful residency in the U.S. are not eligible for FHA-insured mortgages.”Read More
DOJ Repeals Guidance on Mortgage Shopping. Fair Lending Groups Not Happy… July 18, 2018 George Brooks Attorney General Jeff Sessions: “When issuing regulations, federal agencies must abide by constitutional principles and follow the rules set forth by the Congress and the President.”Read More
Trades Urge Congress to Extend NFIP. NAR Fears Lost Home Sales… July 16, 2018 George Brooks NAR fears a major loss in home sales...Read More
Trump Plan Calls for Moving USDA Housing Programs to HUD July 5, 2018 George Brooks Rep. Kenneth Lucas, R-KY, worried that rural communities face challenges that are far different than those faced by typical FHA or VA homebuyers…Read More
Rising Rates Take a Bite out of FHA Lending July 2, 2018 George Brooks Fairway Independent Mortgage ranked first among all FHA purchase lenders with $880.8 million in 1Q18...Read More
HUD Secretary Carson Tells Lawmakers Final Condo Rules Should be Out in September June 29, 2018 George Brooks HUD Secretary Ben Carson has acknowledged the importance of FHA condo rules, particularly for millennials…Read More