Government

In line with the Biden Administration’s previously announced Housing Supply Action Plan, the FHA’s proposed rule sets forth a methodology for regularly adjusting the limits on loans that finance manufactured homes titled as personal property.

As fears of a recession grow, it would be prudent for everyone—servicers and regulators alike—to think hard about default servicing improvements and reforms.

The Urban Institute takes a closer look at efforts by the GSEs to promote sustainable homeownership and rental opportunities for traditionally underserved communities through the FHFA-mandated Equitable Housing Finance Plans.

The MBA reports that nationwide forbearance volume continues to drop, however the impact of Hurricane Ian may change that trend as servicers continue to report on the devastation from the storm.

In the aftermath of Hurricane Ian, homeowners in four additional counties are eligible to apply for federal disaster assistance.

Adjusting the exemption amounts for special appraisal requirements, the CFPB, Federal Reserve, and the Office of the Comptroller of the Currency have revised dollar thresholds to match wage increases as measured by the CPI-W.

Ginnie Mae’s MBS portfolio grew for the 15th consecutive month in September, ending the fiscal year at nearly $2.3 trillion. Alongside financing more than 143,000 homeowners and renters, Ginnie Mae MBS supported financing for more than 64,000 first-time homebuyers last month.

In efforts to further combat the nationwide housing affordability crisis, JPMorgan Chase has announced $3 million in grants for five organizations across the U.S. to expand climate resilient affordable housing for Black, Hispanic, and Latino households.

Fannie Mae’s Economic and Strategic Research Group has found that due to inflation, monetary policy tightening by the Federal reserve, and a slowing market will tip the economy into a “modest recession” during the first quarter of 2023.

Despite rising prices and speculation about looming recession, the Office of the Comptroller of the Currency reports that the performance of first-lien mortgages held by the federal banking system improved throughout the course of Q2 2022.