The Bush administration has issued a long anticipated policy on risk-based pricing to get more borrowers qualified for FHA-insured mortgages. The new pricing structure came in a notice published in the May 13 Federal Register announcing the Department of...
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Fannie Mae has adopted a new national policy requiring a 3 or 5 percent downpayment on all mortgages it will purchase or guarantee, including those in markets where home prices are declining.Effective June 1, the policy will replace a controversial...
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In a separate risk-based pricing development, the Federal Reserve Board and the Federal Trade Commission announced a proposal to implement the last major regulation pending under the Fair and Accurate Credit Transactions Act of 2003. The FACTA was signed into...
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The Department of Housing and Urban Development has issued new guidelines with a risk-based pricing component to open the FHASecure refinancing program to more delinquent subprime borrowers. The risk-based premiums will help ensure that taxpayers do...
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The Federal Trade Commission and the Office of Thrift Supervision have joined a growing number of industry groups opposing a pending appraisal policy which Fannie Mae and FreddieMac plan to adopt under a settlement agreement with New York Attorney General Andrew...
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Department of Housing and Urban Development officials have met with mortgage industry representatives over the last couple of weeks to discuss their concerns about the Bush administration’s proposed reform of the Real Estate Settlement Procedures Act...
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An amendment to the recently passed House omnibus housing relief bill seeking to protect state foreclosure laws from federal preemption has the mortgage industry on edge. If enacted, the amendment could enhance states’ ability to impose moratoria and...
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The Senate Committee on Banking and Urban Affairs last week began tackling legislation that would provide relief to borrowers with underwater mortgages and reform oversight of the housing governments-sponsored enterprises. A scheduled markup of Committee Chairman...
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As renewed interest in FHA-insured mortgage loans spiked with the demise of the subprime mortgage market, the Department of Housing and Urban Development has tweaked its single-family mortgage insurance further to accommodate more borrowers, including those...
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Illinois: The state Department of Financial and Professional Regulation has... Maryland: Gov. Martin O’Malley and state regulators have launched a... New York: The State Assembly has passed a legislative package that would...
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Federal Deposit Insurance Corp.: Home Ownership Preservation Loans. The FDIC is proposing that Congress authorize the Treasury Department to make loans to distressed borrowers to pay down up...
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The Federal Trade Commission’s Bureau of Economics will host... Mortgage Network Inc., an independent mortgage company, has... Interthinx, a provider of mortgage compliance technology, has... The Conference of State Bank Supervisors will...
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