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FHA Again Backs DACA Mortgages

February 1, 2021

In one of the Trump administration’s last acts, the U.S. Department of Housing and Urban Development (HUD) declared that the Federal Housing Administration will once again back mortgages for immigrants under the Deferred Action for Childhood Arrivals (DACA) program. HUD said DACA recipients who are legally permitted to work in the U.S. are eligible to apply […]

Filed Under: CVAR Connect, Government Affairs, Industry News Tagged With: #Cvarmember, Ben Carson, DACA, FHA, FHA Single Family Housing Handbook, HUD, lawful residency, Trump

Trump Names FHA Nominee

February 24, 2020

The Trump administration announced last Thursday it plans to nominate Dana Wade to serve as HUD’s assistant secretary for housing and federal housing commissioner, a role that would put her in charge of the Federal Housing Administration. Brian Montgomery holds that role now, and is currently awaiting a full Senate vote to confirm him as […]

Filed Under: At A Glance, Government Affairs Tagged With: #Cvarmember, cvarconnect, Dana Wade, FHA, FHA commissioner, HUD, Trump

No Appraisal Required for Certain Homes

September 30, 2019

Certain home sales of $400,000 or less will not need an appraisal since federal regulators approved a proposal to increase the threshold at which residential home sales require an appraisal. Last November, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve released a proposal that would increase […]

Filed Under: At A Glance, Government Affairs Tagged With: appraisal, appraiser, consumer groups, Department of Housing and Urban Development, Fannie Mae, Federal regulators, FHA, Freddie Mac, HousingWire, HUD, Veterans Affairs

New FHA Loans: Some See Risks, Others Revival

August 26, 2019

The Trump administration is vastly expanding the scope of condominium purchases eligible for lower-down-payment loans. The move, announced Aug. 14 by the Federal Housing Administration, could help revive the entry-level condo market for first-time buyers because FHA-backed loans require only a 3.5% down payment and lower credit score than conventional loans. It also loosens financial-crisis-era […]

Filed Under: At A Glance, Government Affairs Tagged With: Ben Carson, condo loan, condominum, Department of Housing and Urban Development, FHA, First-time buyer, Trump Administration, Wall Street Journal

FHA Promises Condo Flexibility

June 10, 2019

Federal Housing Administration Commissioner Brian Montgomery recently told attendees at the National Association of REALTORS® meetings in Washington D.C. that the agency is working to revise its condominium approval rules and expects a final rule to be announced soon. Montgomery called condos a “mainstay of affordable housing” for seniors and first-time buyers. Among the proposed […]

Filed Under: At A Glance Tagged With: affordable housing, Ben Carson, Brian Montgomery, condo, FHA, First-time buyer, HUD standards, N.A..R., Washington D.C.

Reverse Mortgage Comeback

March 18, 2019

Professor Chris Mayer has a lesson for ­homeowners: Reverse mortgages, which let older Americans tap their home equity without selling or moving, aren’t as risky as some say. In an online video, he brushes aside “common misconceptions,” including fears about losing your home. Mayer, a real estate professor at Columbia Business School, isn’t an impartial observer. […]

Filed Under: At A Glance Tagged With: American Adisors Group, Columbia Business School, Consumer Financial Protection Bureau, FHA, Financial Industry Regulatory Authority, government-backed mortgage, Longbridge, Mortgage Bankers Association, Prof. Chris Mayer, Reverse Mortgage, Treasury Department

FHA Loan Limit Increase for 2019

December 17, 2018

The Federal Housing Administration published its 2019 loan limits last week. Most areas in the country will see an increase. No jurisdiction will see a decrease from 2018 levels. The loan limit for lower-cost areas will be $314,827, or 65% of the national conforming loan limit of $484,350. In high-cost areas, the limit will be $726,525. […]

Filed Under: At A Glance Tagged With: Federal Housing Administration, FHA, loan limits, Santa Ana Homeownership Center

May 14 – CVAR At A Glance

May 14, 2018

  Featured Classes and Events May 14 | CRMLS FREE Training – CVAR EAST May 15 | Broker/Salesperson License Cram Course – CVAR HQ May 16 | zipForm® Training – LIVE Stream to East & West May 16 | Remine Training – CVAR HQ – Free! May 17 | Alternative to 1031 Exchange Lunch & Learn – Free! […]

Filed Under: At A Glance, California News, Client Tips, CVAR News, Education & Events, Government Affairs, Industry News, Membership, MLS News, National News, Pro Tips, Technology Tagged With: CVAR, CVAR at a Glance, CVAR Connect, cvar.net, cvarconnect.com, FHA, Free Fridays, MarketWatch, masking odors, May Is Lucky, solar panels

Change of PACE for 2018

January 3, 2018

Gov. Jerry Brown signed into law two measures that took effect on Monday, Jan. 1, 2018 and fundamentally reshape and improve PACE financing in its biggest market. Renovate America strongly supported the new laws, which create a landmark consumer-protection and regulatory framework for PACE by enhancing disclosures, strengthening contractor oversight, and conditioning PACE on a […]

Filed Under: At A Glance, California News, Government Affairs, Pro Tips Tagged With: Federal Housing Administration, FHA, HERO Property, PACE, PACE loan, Renovate America

FHA Loan Limit Increase Jan. 1

December 18, 2017

Following on the heels of the Federal Housing Finance Agency, the Federal Housing Administration announced this month that it will increase its loan limits in most areas of the country in 2018. The FHFA had announced new limits for loans eligible for purchase or guarantee by Fannie Mae and Freddie Mac on Nov. 28. In […]

Filed Under: At A Glance, Government Affairs, Industry News Tagged With: 2018, Fannie Mae, Federal Housing Administration, FHA, Freddie Mac, Jan. 1, loan limit, mortgage loan

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