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Housing coalition publishes recommendations for GSEs’ ‘Duty to Serve’ plans

Housing Wire

The GSEs should “increase certain loan purchases” in Duty to Serve markets; develop new and accessible loan products and programs; and evaluate new business partnership opportunities. Better loan products to serve “high-needs rural regions” should also be developed. mortgage finance system.

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FHA adds 40-year loan term to COVID-19 arsenal

Housing Wire

The Department of Housing and Urban Development said that the implementation of such an option could prevent “several thousand borrowers a year from foreclosure.” The Federal Housing Administration told mortgage servicers that they can now offer a 40-year loan term as a COVID-19 recovery option.

Loans 488
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FHA unveils 40-year loan modification option

Housing Wire

The proposed rule , published by the Department of Housing and Urban Development late last week, would change repayment provisions for FHA borrowers, allowing lenders to recast a borrower’s total unpaid loan for an additional 120 months. However, the rate is still elevated compared to pre-pandemic times.

Loans 516
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FHA publishes final rule on the 40-year loan modification

Housing Wire

Department of Housing and Urban Development ( HUD ) added that it would reduce losses to the FHA’s Mutual Mortgage Insurance (MMI) Fund, as fewer properties would be sold out of the FHA’s real estate owned inventory or at a loss due to foreclosure. The rule is slated to go into effect on May 8.

Loans 364
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Radian’s Pyramid Platform automates every step of the real estate process

Housing Wire

As the real estate industry braces for the end of forbearance moratoriums, housing experts are anticipating an increase in foreclosures and REO activity. Clients can utilize real-time and customizable reporting, as well as direct data warehouse access,” said Rebecca Smith, VP, Sales and Business Development.

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Opinion: 5 policy changes that can improve housing affordability

Housing Wire

Residential zoning laws are designed to promote orderly development, control traffic flow, and ensure that noise and activity levels are appropriate to each specific neighborhood. The median price of a home in America is rapidly becoming out of reach for most first-time homebuyers. But much of NIMBYism is rooted in ignorance.

Land 373
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Fannie Mae pays $53M to settle recession-era discrimination suit

Housing Wire

After the housing crisis, the GSE’s portfolio of foreclosed, or “Real Estate Owned” properties ballooned. It alleged the government-sponsored enterprise didn’t maintain foreclosed properties in communities of color as well as it did in white neighborhoods. “I As of 2020, Fannie Mae’s REO portfolio is 17,500.

Equity 365