Housing Wire

APRIL 25, 2024

Older adults and people with disabilities are often prone to financial distress, and they may require more resources to better understand their circumstances and options, according to a new report from the Government Accountability Office (GAO). Among a series of 24 examples of federal financial literacy programs for these groups, the U.S.

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Housing Wire

NOVEMBER 8, 2023

The National Association of Realtors (NAR) on Wednesday unveiled its state flood disclosure tracker tool , aiming to offer clarity and access to survey existing state disclosure requirements for flood insurance. A lapse in NFIP will take place if the government enters a shutdown, which will take place on Nov. 17 unless Congress acts.

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Housing Wire

MARCH 1, 2023

And yes, this certainly has had an impact on insurance companies from coast to coast, as we’ve seen insurers retreat en masse from states such as California , Florida , and Texas , which have all seen record losses in recent years from wildfires, earthquakes, hurricanes, severe winter storms, sinkholes, and more.

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Housing Wire

APRIL 12, 2024

But more broadly, since the Great Recession in 2008, there has been a greater implementation of standardized loss-mitigation measures designed to prevent a foreclosure crisis. Aside from taxes, property insurance costs have also risen, and coverage may even be difficult to find in some areas. foreclosure rate at 0.3%

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Eppraisal

JULY 7, 2023

In this final installment of our three-part series, we will explore government-insured mortgage loans. These loans, backed by government agencies, offer certain benefits and opportunities for homebuyers who meet specific criteria. What are Government-Insured Mortgage Loans?

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Housing Wire

JUNE 1, 2023

Six federal agencies have requested comment from the public on a newly-proposed rule that is designed to “ensure the credibility and integrity of models used in real estate valuations.” And the design and development of the models and algorithms can reflect the biases and blind spots of the developers.”

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Housing Wire

MARCH 29, 2024

The first is for the HECM anti-churning disclosure, which is designed to protect borrowers from unnecessary loan refinancing. Form 1003 “is also used in the mortgage industry by government sponsored enterprises to originate conventional mortgages,” the notice stated. Two key documents are at the center of the proposed changes.

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Housing Wire

JULY 14, 2023

Discriminatory practices and policies in government, the banking, and real estate industries continue to impede access to homeownership for [Black, Indigenous, People of Color (BIPOC)] households today,” the summary explained. In May, Wash.

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Housing Wire

JANUARY 27, 2022

housing entities are at odds over the future of the federal government’s cash-strapped flood insurance program. But Fannie Mae , the government-sponsored entity that backstops a significant portion of the country’s mortgages, does not seek an exception to the 1974 Federal Privacy Act. Two of the most powerful U.S.

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Housing Wire

MARCH 21, 2024

House of Representatives Subcommittee on Housing and Insurance hearing on Wednesday, members focused on the challenges faced by today’s homebuyers. Davidson added that he has “a hard time” agreeing that “more government interference in single-family housing is the answer.” Department of Veterans Affairs (VA),” the memorandum stated.

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Housing Wire

JULY 7, 2023

The Homeowners Assistance Fund (HAF) — a program designed to offer financial help to homeowners impacted by the COVID-19 pandemic — has kept more than 300,000 homeowners in their homes by curing defaults and keeping them out of foreclosure , according to data released this week by the U.S. Department of the Treasury. “As

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Housing Wire

JULY 14, 2023

The National Association of Mortgage Brokers (NAMB) announced this week that it supports new federal regulatory proposals governing the use of automated valuation models (AVMs) in determining property values for mortgage originators and secondary market issuers.

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Housing Wire

FEBRUARY 27, 2023

government. Even after the 2015 law enforcement order, RMK continued to lie to military families by falsely implying government endorsement of its home loans,” CFPB Director Rohit Chopra said in a statement. RMK originated consumer mortgages, including mortgages guaranteed by the VA and mortgages insured by the FHA.

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Housing Wire

JANUARY 18, 2023

Unlike HELOCs, reverse mortgages and jumbo reverse mortgages are designed specifically to help seniors manage their cash flow. A HECM is insured by the Federal Housing Administration (FHA) 2 and cannot be frozen or reduced at any time. The borrower simply needs to pay taxes, insurance and keep up to date on home maintenance.

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Housing Wire

JANUARY 5, 2021

Conventional loans aren’t insured by the government but are backed by private lenders. That said, because conventional loans aren’t guaranteed by the government, they are usually harder to qualify for. These insured loans are a type of federal assistance and require as little as a 3.5% For example: Typical down payments.

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Raleigh Realty

MARCH 29, 2021

Buying a Home As a Government Employee Are you a government employee preparing to buy a home? With the right resources, you can ensure a successful investment and one in which you may save tens of thousands of dollars thanks to being a government employee. Who Is a Government Employee?

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Housing Wire

DECEMBER 14, 2023

The Federal Communications Commission (FCC) — the government regulatory body overseeing communications across a wide variety of media including radio, telephone cable and the internet — adopted a new series of rules on Wednesday designed to crack down on controversial lead generation methods, including “robocalling” and “robo-texting.”

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Housing Wire

FEBRUARY 22, 2023

More than two years after mortgage industry trade groups began openly calling on the Federal Housing Administration ( FHA ) to cut annual premiums on mortgages the agency insures, the Biden administration and the FHA have done just that. So, that’s always a risk for any mortgage insurance company. That’s not our goal.

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Housing Wire

MARCH 28, 2024

New changes from the Federal Housing Administration (FHA) and Ginnie Mae , which insure and guarantee loans, could help open an untapped market for lenders looking to expand their businesses and improve access to credit for buyers of manufactured homes. Yet help might be on the way.

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Housing Wire

JANUARY 5, 2022

But rather than adhering to the program, some mortgage servicers of FHA-insured loans allegedly sent borrowers notices that fail to mention the relief options, requiring paperwork and imposing qualifications that are not necessary under the FHA’s guidelines. “FHA FHA required mortgage servicers to implement the program by Oct.

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Housing Wire

MAY 19, 2023

The bill, 2023-H 6082Aaa (given additional letters in its designation to reflect that it has been amended), is part of a broader package of 14 bills sought by the speaker in an effort to address housing issues and spur additional production according to reporting at The Providence Journal.

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Housing Wire

MARCH 15, 2023

“Over the last two decades, an increasing number of major disasters have impacted the nation and highlighted the importance of effective disaster management at the Federal, State and Local levels of government,” HUD said. In addition, Sen. Cindy Hyde-Smith (R-Miss.) Cindy Hyde-Smith (R-Miss.)

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Housing Wire

MAY 9, 2022

For the first 30 days, a foreclosed property listed for sale can only be bid on by owner-occupant buyers, approved nonprofits, and government entities, the FHA announced last week. Typically, FHA-insured foreclosed properties are snatched up by large investors and turned into rental properties.

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Housing Wire

MAY 27, 2022

The CFPB, a government watchdog agency, said lenders aren’t absolved from adverse action notice requirements under the Equal Credit Opportunity Act if they use complex algorithms, which Rohit Chopra, the director of the CFPB, has dubbed “black-box models.”. The requirement also applies to mortgage lenders, legal experts say.

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Housing Wire

MAY 26, 2022

A spokesperson from Department of Housing and Urban Development’s Office of Inspector General said that the loans funded were FHA-insured loans. She allegedly created phony prepaid debit card statements designed to serve as records of the borrowers withdrawing the monthly child support payments.

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Eppraisal

SEPTEMBER 5, 2023

When purchasing a home and applying for a mortgage, many borrowers are confronted with the dreaded Private Mortgage Insurance (PMI) requirement. Lender-Paid Mortgage Insurance (LPMI) Lender-Paid Mortgage Insurance (LPMI) is an alternative in which the lender pays the PMI premiums on your behalf.

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Housing Wire

AUGUST 22, 2023

On June 1 , six federal agencies requested comments from the public on a rule designed to ensure the credibility and integrity of models used in real estate valuations. The National Association of Mortgage Brokers (NAMB) said it supports new federal regulatory proposals governing the use of AVMs.

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Housing Wire

JUNE 7, 2023

A group of Democratic lawmakers in the United States Senate have introduced a bill designed to assist low-income renters with their security deposit payments. It’s time the federal government get off the sidelines and work to combat America’s housing crisis.” Martin Heinrich (D-N.M.). I’m excited to work with Sen.

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Housing Wire

OCTOBER 23, 2020

Guild agreed to settle the federal lawsuit, brought by the Department of Justice , for just under $25 million, the government said Thursday. Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance. It did not admit to any wrongdoing. Presented by: Total Expert.

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Housing Wire

JUNE 21, 2023

Earlier this month, that coalition of six federal agencies requested comment from the public on a newly-proposed rule that is designed to “ensure the credibility and integrity of models used in real estate valuations.” The Agencies expect to issue a proposed rule to implement the Dodd-Frank Act’s AVM amendments to FIRREA in June 2023.”

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Housing Wire

FEBRUARY 23, 2022

The government watchdog is concerned that automated valuation models may reflect bias in design and function. The Consumer Financial Protection Bureau (CFPB) announced Wednesday that it may propose a rule to regulate the use of automated valuation models (AVMs) by lenders and appraisers.

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Housing Wire

MARCH 3, 2022

Homeowners with mortgages from Fannie Mae , Freddie Mac , or government agencies such as the Federal Housing Administration (FHA) suffering a financial hardship could defer payments up to 18 months. Rocket was the number three issuer of Ginnie Mae-insured mortgages in February, originating $3.5 Securities and Exchange Commission (SEC).

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Housing Wire

MAY 18, 2022

CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans. And I think it’s important for lenders to frame the product that way with borrowers – as a proactive tool designed specifically for older homeowners and one that can help them retire with more financial freedom and peace of mind.

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Housing Wire

SEPTEMBER 17, 2021

This borrower-oriented model could help the industry design a framework for any natural disaster in the future. Most importantly, the CARES Act created a standardized relief program for homeowners with mortgage loans backed by the Government Sponsored Enterprise (GSE) housing agencies (Fannie Mae, Freddie Mac, and Ginnie Mae).

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Housing Wire

MARCH 14, 2022

in which title insurance companies are required by law to file reports identifying individuals who made all-cash real estate purchases exceeding $300,000 through shell companies. As the regulations currently stand, it falls on title insurers in the 12 GTOs to report these all-cash transactions. trillion in existing home sales in 2021.

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Housing Wire

FEBRUARY 7, 2022

For a borrower with tarnished credit and thus unable to get conventional financing, an FHA-insured mortgage is the go-to choice. For a 10% down payment, a hypothetical FHA borrower with a $650,000 base loan amount would pay an additional $568 per month in mortgage insurance premium. Many have called for reductions.

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Housing Wire

SEPTEMBER 6, 2023

Investor expectations will change, and government entities will attempt to coordinate their response. Any future exit from conservatorship will confront issues beyond capitalization such as data monetization, risk parameters, secondary market design, FHA execution and the pricing of mortgage guarantees.

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