CHLA submitted a comment letter to Ginnie Mae, arguing that Ginnie Mae should not stress test smaller IMB issuers, as stress testing would not accurately measure smaller issuer risk, would undermine consumer access to credit, and would increase issuer concentration. The letter drew heavily from CHLA’s January “Report on Ginnie Mae.”
In a formal comment letter to Ginnie Mae, CHLA makes the case that FHA Life of Loan premiums drives borrowers to refinance out of FHA loans – a major contributing factor to an acceleration in Ginnie Mae prepayment speeds, which are harmful to the program.
CHLA released its set of FHA policy proposals – which include ending the overcharging of borrowers by ending FHA’s Life of Loan premium policy, reducing disproportionate penalties for missing servicer deadlines, finalizing pending condo flexibility proposals, modernizing FHA’s IT and underwriting standards, and reducing annual premiums as its Net Worth increases.
CHLA sends a letter to Congressional appropriations leaders asking for (1) higher pay scales for FHA staff, commensurate with other financial regulators and (2) re-authorization of lapsed authorization from the 2008 HERA legislation which allows FHA to use FHA profits to fund needed IT technology updates. Both changes are critical to keeping FHA modern and responsive to borrower and lenders needs.
In identical letters (House letter attached) to House and Senate authorizers and appropriators, the Community Home Lenders Association (CHLA) today asked Congress to adopt legislation that would create higher pay scales for the Government National Mortgage Association (GNMA), commensurate with other federal financial regulators, such as the FDIC and the FHFA. CLICK HERE for letter to House leadership.
CHLA releases a comprehensive “Report on Ginnie Mae” – which explains why smaller IMB issuers pose no significant financial or systemic risk to Ginnie – and concludes that Ginnie Mae should not tighten supervision of smaller IMBs.
In a Housing Wire Op-Ed, CHLA Member Anthony Kellum of Kellum Mortgage highlights CHLA Recommendations to the incoming Biden Administration to expand FHA’s role in
In a National Mortgage News Op-ed, Matt Van Fossen and Taylor Stork make the case for smart state regulation of mortgage firms, in areas like
The Community Home Lenders Association (CHLA) today released a set of comprehensive FHA recommendations it is calling on the Biden/Harris Administration to act on to