Private mortgage insurers expect a boost in business from pricing changes in the conventional market. But an FHA mortgage insurance premium cut, expected sometime in the next several months, could swing business back to the government-insured market.
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Among the areas that need reform, according to two trade groups: There is no secondary market for the loans. Ginnie Mae could remedy that problem by revising its Title I issuer requirements.
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There’s work to be done in the remaining months of the current Congress, including funding the government. If that isn’t done by Dec. 16, the government could shut down, and that has spelled trouble for FHA and USDA originations in the past.
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The fees, already in place for more than the two years originally mandated, cost veterans $200 million annually, the Community Home Lenders of America says.
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RHS extends Section 502 subsidy pilot program; Rural Development seeks applications for 2023 community development program; FHA promotes 203(k) rehab loans; Nutter shutters; MBA names affordable homeownership advisory council members; Chase launches VA purchase closing cost benefit.
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