Housing Wire
APRIL 15, 2024
Buyer agent fees have historically been fees customarily paid by the property seller or property seller’s real estate agent, and, as such, they are currently excluded from these financing concession limits,” according to the statement from Freddie Mac. Next, we hope Fannie will provide a similar framework for buyers.
Housing Wire
DECEMBER 7, 2021
Today, HUD is making it clear that certain SPCPs that are lawful under ECOA generally are not barred by the Fair Housing Act,” said HUD Sec. ECOA prohibits reverse redlining — targeting minority communities for predatory lending — but Congress amended the statute in 1976 to allow for special purpose credit programs.
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Housing Wire
SEPTEMBER 7, 2023
For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. Finding reliable lending partners takes time and some trial and error, but once established is often the lifeblood of LOs. The lender and LO can make or break the transaction.”
Appraiserblogs
OCTOBER 7, 2021
Newsom This law requires a purchase agreement in a real estate transaction to inform a seller and buyer of the opportunity to report, through the Department of Consumer Affairs’ internet website or telephone number, any suspicion of a discriminatory appraisal by the holder of a real estate appraiser license.
Housing Wire
JULY 12, 2023
The lender said qualified buyers will receive up to $10,000 toward their downpayment/closing costs with BorrowSmart Geo-Target, or $5,000 toward their downpayment/closing costs and up to $1,000 toward home warranty and appraisal costs with the HomeReady SPCP. The programs are key to the GSEs’ equitable housing finance plans.
Housing Wire
APRIL 5, 2024
With civil rights bills like the Fair Housing Act (FHAct) and Equal Credit Opportunity Act (ECOA) now the law of the land, most lenders will note that they rely on supposedly objective borrower screening algorithms to make lending decisions. But the results tell a different story. credit histories.
Housing Wire
DECEMBER 21, 2023
The great news is that the program has undergone significant improvements, particularly after the Blue Water Navy Vietnam Veterans Act was signed into law in 2019. The VA makes a guarantee to the lending institution for 25% of the loan amount and the lender is responsible for evaluating the eligibility of the borrower.
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