A bipartisan group of lawmakers has urged House leadership to stop further hikes in VA home-loan funding fees to pay for non-housing veteran benefits. The spending on future veterans’ benefits should be shared by all Americans or paid through direct appropriation of funds, they say.
New York Governor Andrew Cuomo signed into law a bill prohibiting deceptive advertising and marketing of Home Equity Conversion Mortgage loans. The law takes effect March 5, 2020.
New York’s six-year statute of limitation for breach of rep-and-warranty claims in RMBS does not raise investor risk significantly if the deal comes with full, upfront third-party due diligence.
A new paper published by Harvard University found that VA lending is strongest in areas near major military installations. Another finding: VA lending as a share of all mortgages has increased faster in places with higher concentrations of veterans or active-duty personnel.
Industry veteran Brian Montgomery this week moved a little closer to getting the No. 2 job at HUD after the SBC gave him the thumbs-up. Next stop: the full Senate.