Housing Finance

FHA Updates New Construction Financing Requirements

Filed in Advocacy, Housing Finance by on October 22, 2020 0 Comments
FHA Updates New Construction Financing Requirements

The Federal Housing Administration (FHA) today published Mortgagee Letter (ML) 2020-36, FHA New Construction Requirements. This guidance updates the requirements for new construction financing for Title II Single Family forward mortgages in alignment with the regulatory amendments announced in the 2018 final rules that streamlined inspection and warranty requirements.

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CFPB Issues Final Rule Extending GSE Patch

Filed in Advocacy, Housing Finance by on October 20, 2020 0 Comments
CFPB Issues Final Rule Extending GSE Patch

The Consumer Financial Protection Bureau (CFPB) today issued a final rule to extend the “government-sponsored enterprise (GSE) patch” that allows mortgage loans that are eligible for purchase by Fannie Mae and Freddie Mac to receive a safe harbor granted to qualified mortgages (QMs).

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FHFA Extends Support for Borrowers Through Nov. 30

Filed in Advocacy, Disaster Response, Housing Finance by on October 19, 2020 0 Comments
FHFA Extends Support for Borrowers Through Nov. 30

The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac will extend several loan origination flexibilities until Nov. 30, 2020.

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SBA, Treasury Ease PPP Forgiveness Requirements for Loans of $50,000 or Less

Filed in Advocacy, Disaster Response, Housing Finance by on October 9, 2020 0 Comments
SBA, Treasury Ease PPP Forgiveness Requirements for Loans of $50,000 or Less

The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, has released a simpler loan forgiveness application for business owners who received Paycheck Protection Program (PPP) loans of $50,000 or less.

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CFPB Updates Rules on Marketing Service Agreements

Filed in Advocacy, Housing Finance by on October 8, 2020 0 Comments
CFPB Updates Rules on Marketing Service Agreements

The Consumer Financial Protection Bureau (CFPB) on Oct. 7 rescinded a 2015 bulletin that obscured the compliance requirements for marketing service agreements.

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Financial Stability Oversight Council Supports FHFA Capital Proposal

Filed in Advocacy, Housing Finance by on September 28, 2020 0 Comments
Financial Stability Oversight Council Supports FHFA Capital Proposal

The Financial Stability Oversight Council voted unanimously on Sept. 25 to support a resolution in favor of the Federal Housing Finance Agency’s (FHFA) re-proposed capital framework for Fannie Mae and Freddie Mac that was issued this spring. Created by the Dodd-Frank Act of 2010, the Financial Stability Oversight Council is a committee responsible for monitoring the financial system in the United States.

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FHFA Further Extends Support for Borrowers

Filed in Advocacy, Disaster Response, Housing Finance by on September 24, 2020 0 Comments
FHFA Further Extends Support for Borrowers

The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac will extend buying qualified loans in forbearance and several loan origination flexibilities until Oct. 31, 2020. 

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Federal Reserve Releases Plan to Reform Community Reinvestment Act

Filed in Housing Finance by on September 21, 2020 0 Comments
Federal Reserve Releases Plan to Reform Community Reinvestment Act

The Federal Reserve on Monday issued an Advance Notice of Proposed Rulemaking (ANPR) that invites public comment on an approach to modernize the regulations that implement the Community Reinvestment Act (CRA).

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NAHB Podcast: CDC Eviction Moratorium is Bad for Housing

Filed in Advocacy, Housing Finance, Multifamily by on September 11, 2020 2 Comments
NAHB Podcast: CDC Eviction Moratorium is Bad for Housing

On the latest episode of Housing Developments, NAHB CEO Jerry Howard and Chief Lobbyist Jim Tobin discuss the recently-announced eviction moratorium, enforced by the U.S. Centers for Disease Control, and discuss a key race in the Senate.

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FHFA and FHA Extend Single-Family Foreclosure and Eviction Moratoriums Through Dec. 31, 2020

Filed in Advocacy, Disaster Response, Housing Finance by on August 28, 2020 0 Comments
FHFA and FHA Extend Single-Family Foreclosure and Eviction Moratoriums Through Dec. 31, 2020

Both FHFA and FHA said these moves were made to protect borrowers and renters who are at risk of losing their home due to the COVID-19 pandemic. The Federal Housing Administration is also extending its foreclosure and eviction moratorium through the end of the year for home owners with FHA-insured single-family mortgages.

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