Nation: VA Reconsiders Limits on Fees

On April 13, 2017, the Department of Veterans Affairs (VA) released an advanced notice of proposed rulemaking regarding revisions to allowable charges and fees associated with VA guaranteed home loans. In recent years, the VA has received complaints from veterans and other stakeholders, including REALTORS®, that restrictions on the charges and fees VA Loan borrowersContinue reading “Nation: VA Reconsiders Limits on Fees”

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”

NAR on Rural Housing Loan Delays

Many states have experienced delayed processing times for the Single Family Rural Housing Direct and Guaranteed Loan Programs.  The delays are due to budget cuts and reductions in rural housing staff.  Delays have caused many homebuyers to lose locked-in interest rates and sometimes prevent settlements from occurring.  Sellers are hesitant to accept offers with ruralContinue reading “NAR on Rural Housing Loan Delays”