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Mortgage industry provides commentary on CFPB’s proposed changes to QM loan definition

Housing Wire

Prior to the deadline for public commentary on Tuesday, housing industry trade groups, companies and organizations responded to the Consumer Financial Protection Bureau’s proposed rulemaking for the general qualified mortgage definition and the expiration of the QM patch in January 2021.

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MORE AMORIN INFLUENCE (MAI): The AI National Nominating Committee Design Is Being Attacked By FOJs

Miller Samuel

To all members of the Appraisal Institute: Before I start, I wanted to share what the Appraisal Institute's MAI designation is referred to by many of its members. By definition, FOJs do not care about membership or the direction of the institution. that MAI stands for: MORE ANNUAL INCOME. MADE AS INSTRUCTED. MORE AMORIN INFLUENCE.

Design 370
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Brooke Anderson-Tompkins on the ‘lifescape’ of AI

Housing Wire

It absolutely wasn’t around the headline hype, but that informed me to the extent that as I looked at the things that I was passionate about, the opportunity to incorporate artificial intelligence in the mortgage ecosystem definitely had me leaning in. We’re so used to, “Ok, here’s the definition.

Design 364
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How manufactured homes can help alleviate the affordable housing crisis

Housing Wire

Low profile foundations, high-pitched roofs, front porches, driveways, energy efficiency elements, and garages or carports are just a few of the new design features available. But once the definition of manufactured homes was clarified, and they were shown images or video of what these homes look like, their interest increased by 31%.

Design 516
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HUD Updates Manufactured Home Regulations

Appraisal Buzz

This update of the HUD Code is long overdue and will help increase production while also ensuring modern designs to suit the needs of families.” In addition, the final rule includes more clarity regarding structural design requirements for attics.

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Climate risk is rising. It calls for a rethinking of home insurance coverage

Housing Wire

For homeowners with conventional loans backed by Fannie Mae and Freddie Mac , insurance at replacement cost is mandatory, but flood insurance is only required in designated flood zones. Others say homeowners insurance wasn’t designed around catastrophe risk — it was designed around idiosyncratic storms or trees falling on roofs.

Insurance 461
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Short-term rentals are outperforming hotels, here’s how one company is helping property owners

Housing Wire

The partnership is designed help property owners who work with Vrbo deal with the compliance requirements of having a short-term rental. The compliance side of short-term rentals is something that is often confusing, not clear, it’s definitely not generally the expertise of the property owners,” Knudsen said.

Design 454