CHLA Commends FHA Commissioner Gordon for New Proposal to Keep Homeowners in their Home
The Community Home Lenders of America (CHLA) commended FHA Commissioner Julia Gordon for today’s announcement that FHA is proposing a program to create a flexible partial claim loan modification option for defaulted borrowers – which avoids having to take the underlying loan out of a Ginnie Mae loan pool. CHLA was the first national association to ask FHA to develop such a program option, in a letter
CHLA Asks FHFA for GSE Repurchase Policy Changes – to Protect Consumers, Lenders, and Underserved Borrowers
The Community Home Lenders of America (CHLA) today sent a letter to FHFA, Fannie Mae, and Freddie Mac – asking Fannie and Freddie to adopt a uniform policy of offering an indemnification, instead of a repurchase demand, for all performing loans with defects.
CHLA letter to FHFA: GSEs should offer indemnifications instead of repurchases for performing loans
In a letter to FHFA Director Sandra Thompson, CHLA is asking Fannie Mae and Freddie Mac to adopt a policy of offering a reasonable indemnification in lieu of a repurchase demand for performing loans. The letter complements a letter in late March asking the GSEs to require more accountability for aggregators in executing repurchase demands for correspondent lenders.
CHLA Writes FHFA seeking elimination of >40% DTI LLPA
CHLA sent a letter to FHFA Director Sandra Thompson, asking for the elimination of the LLPA for Fannie Mae and Freddie Mac loans over 40% DTI – and offering support for a 2 Basis point across the board LLPA hike if that is necessary to end the DTI pricing component
CHLA Asks appropriators for full funding and fleXibility for FHA and ginnie mae
In a detailed letter to top House and Senate appropriators, CHLA is asking for Congress to fully fund FHA and Ginnie Mae’s salaries and administrative funding requests, as well as payscale comparability, and more flexible contracting authority.
FHA unveils proposal for a new partial claim option
“The skyrocketing of mortgage rates has undermined FHA’s main loss mitigation tool for helping distressed borrowers – and FHA’s nimbleness in finding a workaround for
Leaders struck a debt ceiling deal. What does it mean for mortgages?
“But mortgage rates have been creeping up in recent weeks because of uncertainties, so an agreement that brings some deficit reduction and removes this uncertainty
Housing Wire-CHLA urges CFPB action on dual compensation arrangements
The Community Home Lenders of America (CHLA) sent a letter on Thursday to the Consumer Financial Protection Bureau (CFPB) that urges the agency to adopt and implement a series of rules to protect homebuyers from so-called “dual compensation” arrangements during the homebuying process.