Both FHA and VA saw sharp declines in purchase-money endorsements in the first quarter, and the FHA actually posted a bigger gain in refinance business. (Includes three data charts.)
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The Homebuyers Assistance Act of 2021 amends the National Housing Act to allow state-licensed professionals to conduct appraisals for FHA-insured properties.
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Two separate bills aim to improve the mortgage process for borrowers who have a limited proficiency of English and to combat discrimination in the consumer marketplace.
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Lenders can begin reviewing borrowers for loss-mitigation options at any point prior to completion or expiration of their pandemic-related forbearance period.
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The seriously delinquent rate for FHA and VA loans declined by 47 basis points and 3 bps, respectively, during the first quarter, IFHA found.
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In what may be an apples-to-orange comparison, it looks like the homeowners impacted by the COVID crisis were better off than those impacted during the Great Recession.
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