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CHLA In The News

CHLA In The News

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 this will be greatly appreciated by distressed homeowners,” Scott Olson, CHLA’s executive director, said in a statement.

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.

National Mortgage News-Mounting repurchase costs prompt call for new policy

The Community Lenders of America is calling for indemnification rather than forcing agency sellers to repurchase loans. Those mortgage bankers have had to sell these in the scratch-and-dent market at steep discounts at a time when the GSEs have increased the share of loans they review for manufacturing errors.