Housing Wire

NOVEMBER 2, 2021

In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan.

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Housing Wire

OCTOBER 13, 2022

Prior to the advent and widespread use of title insurance, before taking title to a property, the buyer required that the title be free of any rights, interests, liens or encumbrances of others for which the buyer would be responsible for. We haven’t seen any real data based on the conversation that it is going to save money.

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Housing Wire

MARCH 5, 2024

Department of Housing and Urban Development (HUD) and state and local housing finance agencies,” according to the announcement. The third provision is an extension of the support from the Federal Financing Bank (FFB) for “a risk-sharing initiative between the U.S.

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Housing Wire

FEBRUARY 26, 2024

The cost of homeowners insurance has surged in Florida as insurance companies have grappled with significant losses due to an increase in natural disasters. And homeowners insurance costs are three times higher in Florida than the national average.

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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

APRIL 14, 2023

Nearly 12 months have passed since Fannie Mae first announced it would in limited circumstances be accepting attorney opinion letters in lieu of title insurance. We will continue to share our concerns about Fannie Mae moving beyond its mission and into the business of title insurance.

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Housing Wire

OCTOBER 18, 2023

Department of Housing and Urban Development (HUD), Julia Gordon. “We’re hoping to have a final policy [for the payment supplement partial claim] out before the end of the year, although I will say keep your fingers crossed that we don’t face any lapse in appropriations that would shut down the government.”

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Housing Wire

SEPTEMBER 10, 2022

The loan program uses credit guidelines based on factors such as timely rent, utility bill, phone, and auto insurance payments. In December, the Department of Housing and Urban Development released guidance that SPCPs would not violate the Fair Housing Act, which has long discouraged creditors from developing programs.

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Housing Wire

SEPTEMBER 11, 2023

Lesley Alli and Andrew Greenberg both joined NMI Holdings to serve as senior vice presidents, announced the parent company of National Mortgage Insurance Corporation Monday in a statement. Alli was named senior vice president of industry relations and corporate communications.

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Housing Wire

MARCH 29, 2024

Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program, according to a notice published this week in the Federal Register.

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Housing Wire

MAY 31, 2023

Last week we talked about the cost of flood insurance going up by over 200% for some homeowners in the Southeast as both the federal government and private insurers determine how to price the soaring cost of climate risk, or abandon insuring them altogether. What does this all mean for Californians?

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Housing Wire

MARCH 27, 2023

At a time of high mortgage rates and inflation, the federal government — along with government-sponsored enterprises — is understandably under pressure to lower costs and make homeownership more accessible. The title insurance industry continued to pay out claims, many fraud-related, despite a severe recession.

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Housing Wire

APRIL 19, 2022

Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to FHA’s mortgage lending policies. The Department of Housing and Urban Development said that the implementation of such an option could prevent “several thousand borrowers a year from foreclosure.”

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Housing Wire

FEBRUARY 23, 2024

TCB claims that it dealt with Ginnie Mae in good faith, having lent “millions of dollars in much-needed financing to help the collapsing [RMF] continue making payments to senior citizens as part of a mortgage program critical to the federal government.” TCB was thus left with no alternative but to file this action,” the bank concluded.

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Housing Wire

APRIL 14, 2023

This environment requires policymakers to double down on the same philosophy private mortgage insurers embody every day: the dual pursuit of facilitating affordable , sustainable access to homeownership while also ensuring systemic safety and soundness. trillion in mortgages are backed by private mortgage insurance. Today, roughly $1.5

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Housing Wire

AUGUST 10, 2023

The share of distressed property auction buyers who say they are owner-occupants nearly doubled over the last year, boosted by a game-changing government policy that took effect last August. Department of Housing and Urban Development (HUD) in August 2022. of all properties available for the first-look auctions during the quarter.

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Housing Wire

JULY 18, 2022

The Federal Housing Administration ’s (FHA) decision to withhold a mortgage insurance premium cut has confounded mortgage policy experts and industry stakeholders. The connection between the upfront, annual and life-of-loan fees FHA borrowers pay and funding for, say, community development block grants, is not immediately apparent.

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Housing Wire

JUNE 24, 2022

million to resolve allegations that it fraudulently originated government-backed mortgage loans insured by the Federal Housing Administration (FHA). Department of Housing and Urban Development (HUD), and the U.S. Brea, California-based direct lender American Financial Network will pay about $1.04 Attorney’s office.

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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

JUNE 1, 2023

The proposed rule would also implement quality control standards that govern the use of automated valuation models (AVMs) used by mortgage originators and secondary market issuers in valuing real estate collateral securing mortgage loans. Department of the Treasury ; and the Federal Reserve System.

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Housing Wire

MARCH 29, 2024

But she quickly realized it is facing real challenges, and she began asking why it has not grown and developed to a place it could be. “I When it comes to government-backed reverse mortgages, there are certain product features that customers wish could be different, she said. “At

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Housing Wire

APRIL 10, 2024

Last July, the company sold its title insurance business to Essent Group , followed by strategic changes in September including a transition of its offshore-based operations to a team in the Philippines and the sale of “certain operations” of its home improvement lending business to Aqua Finance.

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Appraisal Buzz

DECEMBER 3, 2021

The Interagency Task Force on Property Appraisal and Valuation Equity (commonly known by the acronym PAVE) was created in June 2021 by President Biden, and consists of representatives of numerous federal government agencies, including the Department of Housing and Urban Development (HUD), Department of Veterans Affairs (VA), Federal Deposit Insurance (..)

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Housing Wire

NOVEMBER 18, 2022

savings and loan associations, savings banks, and cooperative banks) and insurance companies. It was not until 1989 that Congress expanded membership to all federally insured depository institutions. Thus, if there is a conflict between the super lien and state insurance law, it is unclear which statutory system would prevail.

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Housing Wire

JUNE 20, 2023

When we first learned about NTRAPS last summer, we immediately began developing strategies on how to stop these exploitative and predatory business practices. We soon realized that prohibiting these unfair agreements altogether is the best course of action to protect consumers, and we quickly sprang into action.

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Housing Wire

SEPTEMBER 15, 2023

FHA mortgage programs The Federal Housing Administration (FHA) provides easy-to-qualify government insured loans. Department of Housing and Urban Development (HUD) which is offered to public servants, such as first responders. You all know people who can benefit from these programs. What a great way to be of service yourself!

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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 required mortgage servicers to implement the program by Oct.

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Housing Wire

JUNE 21, 2023

The Consumer Financial Protection Bureau (CFPB) has 11 different items in the pipeline in its section of the federal government’s 2023 spring regulatory agenda, released last week by the White House. Department of Housing and Urban Development (HUD), the regulator’s agenda will address issues relevant to the housing industry.

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Housing Wire

AUGUST 23, 2022

The FHFA is seeking members who have a background in financing, development, and/or administrative work related to the government sponsored entities and the FHLBs. The committee, whose members have not yet been selected, will focus on the FHFA’s regulated entities, Fannie Mae , Freddie Mac and the Federal Home Loan Banks.

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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. Based on Hernandez’s alleged misrepresentations, the financial institution approved and funded the mortgage loans, the government claims.

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Housing Wire

AUGUST 22, 2023

The proposed rule will implement quality control standards that govern AVMs used by originators and secondary market issuers in valuing the real estate collateral securing mortgage loans. 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

FEBRUARY 22, 2022

Special purpose credit programs, Uejio said, are “also a recognition that government alone cannot solve this problem.”. If the regulators were willing to give someone a decision with a safe harbor behind it, lenders would be much more inclined to develop the programs,” said Arculin. “If

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Housing Wire

FEBRUARY 19, 2024

That’s because the unpaid loan balance continues to grow for delinquent mortgages due to unpaid interest, property taxes and insurance. But increasing home prices, on their own, are often not enough to increase home equity for distressed homeowners.

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Housing Wire

DECEMBER 21, 2020

The trade organization announced Elizabeth Blosser as its new vice president of government affairs. She ensured the association continued to provide networking and educational opportunities to the title insurance industry within the new platform. Finally, it named Emily Tryon its senior director of public policy and government affairs.

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Housing Wire

JUNE 9, 2021

It extends to their checking and savings accounts, small business and community development debt and equity financing, bank branch locations, financial literacy, grantmaking and more. Bank CRA obligations cover far more than their mortgage lending. They are bound to do more.

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Housing Wire

MAY 3, 2021

The Federal Housing Finance Agency (FHFA) finalized a rule on Monday that will require Fannie Mae and Freddie Mac to develop plans that would ensure upon their eventual exit from conservatorship, they won’t do any large scale harm to the financial system. government.

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Housing Wire

NOVEMBER 10, 2021

The federal government’s top regulators announced Wednesday that they are collectively resuming mortgage servicing supervisory and enforcement practices in full, ending certain flexibilities it offered mortgage servicers at the onset of the Covid-19 pandemic.

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