The Senate-approved budget extender has several provisions around the Veterans Affairs partial claims program to help distressed borrowers. In particular, one section of the bill is called in part Improvements to Partial Claim Program. A change extends the period for a second partial claim filing following a natural disaster to 180 days from 120 days. […]
Senate-approved budget bill adds VA partial claims extension Read More »
The Federal Home Loan Bank System has an economic benefit at least nearly twice the size of a Congressional Budget Office estimate of its implied-guarantee cost, new research shows. The system has at least a $13.2 billion benefit annually, 1.9 times what the CBO has estimated is its main $6.9 billion government subsidy, according to
FHLBank benefits at least 1.9 times guarantee costs: study Read More »
As the government shutdown comes to an end, two congressmen introduced legislation to retroactively restore the National Flood Insurance Program. Reps. Troy Carter, D-La., and Mike Ezell, R-Miss., introduced the Retroactive Renewal and Reauthorization Act to the House Monday, with hopes to backdate the reauthorization of the insurance program to Sept. 30, the day before
Flood insurance retroactive restoration bill introduced Read More »
Key Insight: The Justice Department filed a motion with a court about a “potential lapse in appropriations.” The CFPB said it has enough money to operate through Dec. 31st. Supporting Data: The Justice Department’s Office of Legal Counsel made the decision that the central bank lacks “combined earnings” to fund the CFPB, as required by
DOJ: CFPB cannot request new funding from the Fed Read More »
Fannie Mae and Freddie Mac, two influential mortgage buyers the United States holds in conservatorship, are looking into doing more with loans transferred between buyers and sellers, according to Federal Housing Finance Agency Director Bill Pulte. “At Fannie and Freddie, we are evaluating how to do assumable or portable mortgages in a safe and sound
Fannie, Freddie eyeing assumable or portable loans: Pulte Read More »
President Donald Trump downplayed criticism of the potential creation of a 50-year mortgage product, saying it would help more Americans afford monthly payments on homes. “It’s not even a big deal,” Trump said in an interview with Fox News that aired on Monday. “All it means is you pay less per month. You pay it
Trump defends 50-year mortgage plan, calling it ‘not a big deal’ Read More »
The Veterans Affairs home loan benefit has been available for more than 81 years, yet misconceptions about the program persist, a Navy Federal Credit Union survey found. These misunderstandings affect both eligible borrowers and real estate professionals concerned about VA requirements. VA mortgage applications accounted for 13.4% of all mortgage applications in the week ending
VA loans gain ground despite misconceptions and shutdown Read More »
The record-breaking US government shutdown is nearing an end after a group of moderate Senate Democrats agreed to support a deal to reopen the government and fund some departments and agencies for the next year, people familiar with the talks said. Under the agreement, Congress would pass full-year funding for the departments of Agriculture, Veterans
Shutdown nears end as Senate Democrats agree to funding deal Read More »
By Oct. 1, the first day of the federal government shutdown, mortgage subservicer Loancare was already fielding calls from borrowers asking what it meant for them and whether forbearance or other relief options were available. Consumers may have been more optimistic then. By Nov. 7, the shutdown had entered Day 38, concern was growing. How
How some mortgage servicers have handled shutdown fallout Read More »
The range of fixed-rate mortgage terms and other outcomes possible through government-sponsored enterprise reform got a lot wider over the weekend. President Trump and Bill Pulte, the head of the GSEs’ oversight agency, used the social media channels they often employ to float ideas in order to advocate for a 50-year mortgage, a concept at
Trump, Pulte float 50-year mortgage use in U.S. Read More »