A new bill—known as the “Blue Water Navy Vietnam Veterans Act” (H.R. 299)—was recently signed into law by President Trump and will soon allow the Department of Veteran Affairs (VA) to back loans that exceed the conforming loan limit.
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A new bill—known as the “Blue Water Navy Vietnam Veterans Act” (H.R. 299)—was recently signed into law by President Trump and will soon allow the Department of Veteran Affairs (VA) to back loans that exceed the conforming loan limit.
Read MoreTopics: Lenders, Mortgage Companies, Compliance, residential mortgage industry, Regulations, Credit Union
“The Homebuyer Assistance Act of 2019”, which is designed to address the current shortage of certified appraisers (particularly for FHA mortgages), was recently advanced by the House Financial Services Committee.
Read MoreTopics: Lenders, AMCs, Mortgage Companies, Compliance, residential mortgage industry, Regulations, Appraisal Process Management, proposals, Credit Union
The Federal Housing Administration (FHA) recently announced that it is delaying the implementation of an impending rule that would have required digital signatures on appraisals when uploaded to its Electronic Appraisal Delivery System (EAD).
Read MoreTopics: Lenders, appraisal technology, AMCs, Mortgage Companies, Compliance, residential mortgage industry, Regulations, Appraisal Process Management, Credit Union
The Appraisal Foundation recently announced that it has begun its search for qualified candidates to serve on its Appraiser Qualifications Board (AQB) and Appraisal Standards Board (ASB).
Read MoreTopics: Appraisers, AMCs, Compliance, Regulations, State Licensing, USPAP
The FHFA has released its 2018 Report to Congress, which includes commentary from Director Mark Calabria that encourages Congress to act on housing reform, requests chartering authority similar to the OCC, and discusses the GSEs’ conservatorship – advising that it should end.
Read MoreTopics: Freddie MAC, GSE, Fannie Mae, Lenders, Mortgage Companies, Compliance, residential mortgage industry, Regulations, Credit Union
The Appraisal Foundation recently announced that U.S. Senator John Thune (R-SD) has introduced new legislation that would allow licensed appraisers to once again perform FHA appraisals. The bill, known as the “FHA Appraiser Eligibility Expansion Act” (or SB 1722), is designed to help end appraiser shortages – particularly in rural areas.
Read MoreTopics: Lenders, Appraisers, AMCs, Compliance, residential mortgage industry, Regulations
The FHA recently announced several proposed revisions to its lender certification requirements, which are designed to increase participation in its single-family mortgage insurance program. The revisions are also intended to provide lenders and servicers with greater certainty in how to satisfy the administration’s compliance requirements.
Read MoreTopics: Lenders, Compliance, residential mortgage industry, Regulations
A new bill, known as the Fair and Equal Housing Act of 2019, was recently introduce to the U.S. Senate by Senators Tim Kaine (D-VA), Susan Collins (R-ME), and Angus King (I-ME). If passed, the legislation would expand the country’s Fair Housing Act to include gender identity and sexual orientation as protected classes.
Read MoreTopics: Lenders, Mortgage Companies, Compliance, Regulations, Credit Union
Many within the mortgage origination process understand the ECOA Appraisal Rule and the added importance of delivering their appraisal reports to the borrower on time, every time.
Read MoreTopics: Lenders, appraisal technology, collateral management, eTrac Enterprise Solutions, Mortgage Companies, Global DMS, Compliance, residential mortgage industry, Regulations, Appraisal Process Management, Credit Union
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