On August 24 HUD extended its existing temporary guidance on condos, without the changes brought about in HR 3700 (Housing Opportunity Through Modernization Act). HUD continues to work on the regulatory guidance to implement the new law, but the existing guidance was set to expire. In notice 2016-13, HUD extends the existing guidance until theContinue reading “Nation: HUD Extends Temporary Guidance on Condos”
Tag Archives: Federal Housing Finance Agency
Nation: Feds Announce Changes to PACE Loans
The Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) announced changes to the treatment of Property Assessed Clean Energy (PACE) loans. This new guidance, which goes into effect immediately, states that PACE loans will remain in a subordinated position on most FHA mortgages, in line with long-standing guidance from the Federal Housing FinanceContinue reading “Nation: Feds Announce Changes to PACE Loans”
NAR Comments On 2016 Home Price Index
On July 27, 2015, NAR President Chris Polychron submitted comments regarding changes to the national loan limit price index in response to a Federal Housing Finance Agency (FHFA) request. The national limit determines the individual loan limits available under the GSEs and FHA and VA loan programs. NAR recommends a multifaceted methodology that accurately reflectsContinue reading “NAR Comments On 2016 Home Price Index”
FHFA Improves Note Sale Program
On March 2 the Federal Housing Finance Agency enhanced requirements for sales of non-performing loans by Freddie Mac and Fannie Mae (the GSEs). In a letter last year NAR raised concerns that this disposition strategy gives investors an advantage over potential owner occupant buyers. NAR requested more information on the sale of the notes andContinue reading “FHFA Improves Note Sale Program”
QRM Rule Revision Victory for NAR
On Aug 28 regulators proposed easing a measure to require lenders to keep a stake in mortgages that they securitize, an effort designed to discourage the kind of risky loans that contributed to the subprime credit crisis. The 505-page(!) draft regulation written by six agencies drops a requirement that lenders retain a stake in mortgagesContinue reading “QRM Rule Revision Victory for NAR”
IRES MLS: Come Home to Colorado 