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Trade groups express concern to FHFA over historic credit data

Housing Wire

A coalition of trade organizations — including the American Bankers Association (ABA), the Housing Policy Council (HPC), the Independent Community Bankers of America (ICBA), the Mortgage Bankers Association (MBA) and U.S. historical dataset. that use trended credit bureau data.

Legal 414
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ROV (Reconsideration of Value) Changes – FHA and GSEs

Appraisal Today

VA’s Tidewater Initiative written in 2021 by McKissock (Similar idea as current ROV changes), effective in 2003. New FHA ROV Policy By Dave Towne, May 3, 2024 Excerpts: Up until recently, there has never been a standardized policy for mortgage loan related Reconsideration of Value (ROV) requests after an appraisal has been submitted.

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HUD declares FHA once again backing DACA mortgages

Housing Wire

Department of Housing and Urban Development declared Wednesday that the Federal Housing Administration will once again back mortgages for immigrants under the Deferred Action for Childhood Arrivals (DACA) program. HUD said DACA recipients who are legally permitted to work in the U.S. are not eligible for FHA-insured mortgages.” .”

Mortgage 546
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New FHA Eligibility for DACA Recipients!

On Q Financial

The Department of Housing and Urban Development announced on January 19, 2021, that the FHA would once again back mortgages for DACA recipients. Among other protections, DACA allows recipients to legally work in the U.S. In 2003, the FHA Housing Handbook stated, “non-U.S. are not eligible for FHA-insured mortgages.”

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