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HUD outlines reverse mortgage wish list in budget proposal

Housing Wire

The budget also requests $400 billion in loan guarantee commitment limitation for the Mutual Mortgage Insurance (MMI) Fund through September 2026, which is “sufficient authority for insurance of all single family forward mortgages and HECMs,” the document reads. HUD is requesting $2.5

Mortgage 458
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Trade groups express concern to FHFA over historic credit data

Housing Wire

Mortgage Insurers — sent a letter on Monday to the Federal Housing Finance Agency (FHFA) to express concerns about the FHFA’s intent to publish the VantageScore 4.0 historical dataset. FHFA’s current lack of a plan to include “through the cycle” data increases the importance of the data itself, the letter explained.

Legal 448
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HUD: A racial divide exists between FHA homeownership and rental assistance programs

Housing Wire

A voucher location report published in 2003 said that white recipients of HCVs were “more likely to live outside of central cities than Black or Hispanic voucher recipients, indicating that the race and ethnicity of program participants may be determining factors for where they live.”

Tenants 488
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New CFPB Rules Proposes to Ban Medical Bills from Credit Reports

Appraisal Buzz

The idea would forbid lenders from basing lending choices on medical information and restrict credit reporting companies from disclosing medical debts to lenders. As part of its efforts to alleviate the burden of medical debt and coercive credit reporting practices, the CFPB has proposed a rule.

Legal 396
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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. My comments: I find this post’s appraiser comments most interesting, especially those from VA appraisers who have been required to use the VA’s Tidewater Initiative, which started in 2003.

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SFR or 2 units with an ADU?

Appraisal Today

Then, along came accessory dwelling units (ADU), which in some states and cities are messing with established appraisal and lending systems. Conflict With Lending The Federal National Mortgage Association (FNMA) will buy a loan where the single-family home has a single ADU. Ah, the good old days. FHLMC), the VA and FHA.

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The Week Ahead: Exploring Cost Savings Through Outsourcing

Appraisal Buzz

In 2003, he owned and operated BCF Technology Resources Inc. Mowen also gained extensive knowledge of business process management for the mortgage lending industry while managing Post-Closing in the Consumer Loan group of Bank of America.

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