The rule allows increasing the maximum term of a loan modification from 360 to 480 months for FHA-insured mortgages after a default episode.
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These changes would make activities by Fannie Mae and Freddie Mac in all colonia census tracts eligible for duty to serve credit.
In its new policy, FHA considers positive rental payment history as the on-time payment of all rental payments in the previous 12 months.
The Federal Housing Finance Agency announced today it will conduct a “comprehensive review” of the Federal Home Loan Bank System beginning in September.
The data collected will include borrowers’ age, race, ethnicity, gender and language preference, effective March 2023.
The share of mortgages originated by nonbanks continues to climb, accounting for 63.9% of home-purchase loans, up from 60.7% in 2020.
Limited inventory, supply chain disruptions, rising interest rates and more institutional investors in the market have made the homebuying process more onerous.
In a recent op-ed, ABA’s vice chair pushes back at FHLB critics, saying the system plays a critical lender role in supporting the economy with liquidity in good times and bad.