
FHFA to delay new DTI ratio-based fee due to operational concerns
The Federal Housing Finance Agency will delay the implementation of a new debt-to-income ratio-based fee until Aug. 1 to allow additional time for lenders to prepare to deploy it.
The Federal Housing Finance Agency will delay the implementation of a new debt-to-income ratio-based fee until Aug. 1 to allow additional time for lenders to prepare to deploy it.
Mortgage lenders can be held liable under federal law for relying on discriminatory appraisals from third-party appraisers, the CFPB and U.S. Department of Justice said this week.
How does a community bank whose bread and butter was mortgage lending make the business sustainable in a time when mortgages have increasingly moved to the nonbank sector?
The Federal Housing Administration this week published a final rule removing Libor as an approved index for adjustable-rate mortgages and replacing it with the Secured Overnight Financing Rate as the approved index for newly originated forward ARMs, effective March 31.
Fannie Mae and Freddie Mac will reduce the upfront fee for commingled securities to 9.375 basis points starting April 1, the Federal Housing Finance Agency said this week.
In a letter this week, the American Bankers Association and 18 industry and advocacy groups urged the Veteran’s Administration to expand the loss mitigation options available under the VA Home Loan Guaranty Program to help borrowers avoid foreclosure.
This draft also proposes updated appraisal review standards intended to provide mortgagees and appraisers with clarifying guidance regarding the quality of an appraisal report.
Of those who received multiple quotes, interest rate and monthly payment were the leading items homebuyers compared.
Lenders need assurances regarding legal and examination risk plus time for lenders to install or refine HMDA systems and achieve compliance.
Economic uncertainty and rising borrowing costs have increased risk in both the residential and commercial real estate sectors, which could increase risks to U.S. financial stability, the Financial Stability Oversight Council warned in its annual report.