Class Valuation acquires AMC AppraisalTek
National appraisal management company Class Valuation is extending its reach, with the acquisition of yet another appraisal management company. The AMC today announced the acquisition of AppraisalTek,...
View ArticleFannie Mae to accept lender-funded down payment assistance
Fannie Mae will now buy mortgage loans with lender-funded grants, including down payment assistance, closing costs or financial reserves. The change could give nonbank lenders a way to guard against...
View ArticleBanking agencies get deluge of feedback on CRA proposal
Stakeholders on all sides of the issues sounded off on the proposed changes to the federal redlining statute in comments to the banking agencies marshaling the changes. Some of the nearly 360 comments...
View ArticleCredit unions get some love from Ginnie Mae
Ginnie Mae, which guarantees loans to veterans and Federal Housing Administration borrowers, is changing its attitude toward credit unions. In a change to its capital requirements, which set minimum...
View ArticleChanges ahead for Ginnie Mae and FHA’s manufactured housing program
Ginnie Mae and the Federal Housing Administration are looking to take a bigger bite out of manufactured housing finance. In a request for input the agencies published at the end of July, FHA and...
View ArticleWaters tells CFPB to shut down Equifax credit reporting
California Democratic Congresswoman Maxine Waters wants Consumer Financial Protection Bureau Director Rohit Chopra to put a “moratorium” on Equifax, after it reported faulty credit scores of millions...
View ArticleFHFA: GSE servicers must keep fair lending data
In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. Starting March 1, 2023,...
View ArticleSmaller mortgage lender lobby groups to merge
The Community Home Lenders Association and the Community Mortgage Lenders of America, two Washington, D.C. lobby groups representing smaller mortgage lenders, will join forces. The new group, the...
View ArticleFHFA and Ginnie Mae relax proposed seller servicer requirements
The Federal Housing Finance Agency (FHFA) and Ginnie Mae are walking back some of the more controversial proposed eligibility requirements for sellers, servicers and issuers they oversee. But the...
View ArticleGinnie Mae digs in on 250% MSR risk weight for nonbanks
Ginnie Mae is not budging on its proposal to put a 250% risk weight on gross mortgage servicing rights. The requirement would be for nonbanks, who make up the bulk of the Federal Housing...
View Article
