FHA/VA/HUD

Pandemic-era loss mitigation plans have been expanded and extended by the FHA going forward. Click through to find out what that means for borrowers and servicers alike.

“This proposed rule is a major step towards fulfilling the law's full promise and advancing our legal, ethical, and moral charge to provide equitable access to opportunity for all,” said Marcia L. Fudge, Secretary of Housing and Urban Development.

Mortgage applications for new home purchases decreased 25.2% in December compared to a year ago, according to a new report from the MBA Builder Application Survey. The data shows the number of applications and estimated sales are more than 20% behind last year's pace.

Fannie Mae’s Jake Williamson and Appraisal Institute President Craig Steinley share their perspective with MReport about how the industry is working to improve the appraisal process in 2023.

HUD has announced that Secretary Marcia Fudge and Deputy Secretary Adrianne Todman will participate in service projects to honor Dr. Martin Luther King. Jr., and discuss how modern-day housing issues intersect with the civil rights legacy he helped inspire.

“HUD is committed to making the appraisal process fair nationwide. We must eliminate bias in home valuations so that everyone can equally reap the benefit of wealth—and intergenerational wealth—that come along with homeownership,” said HUD Secretary Marcia L. Fudge.

The MBA reports that the downturn in mortgage rates has triggered homebuyer interest, as overall app volume has increased for the second consecutive week, and refinance activity rose 6% week-over-week.

Under HR 7735, servicemembers, veterans, and their families will have increased access to more affordable, sustainable homeownership opportunities through the Department of Veterans Affairs.

According to new MBA Builder Application Survey data for November 2022, findings show mortgage applications for new home purchases decreased an estimated 25% compared to a year ago.

A new repayment plan will allow mortgage servicers to offer homeowners impacted by COVID-19 up to five years to repay past-due property charges.