CHLA In The News
A National Mortgage News story highlights FHA’s strong Actuarial Report showing FHA Net Worth growing dramatically to 4.84% – with CHLA using this data to continue to press its case that borrowers are being overcharged and therefore FHA should end Life of Loan premiums.
In an August 17, 2019 Scotsman Guide Q&A, CHLA Executive Director Scott Olson explains that community lenders believe the GSE QM patch isn’t likely to expire without the CFPB at least replacing it with comparable flexibility.
National Mortgage News: CHLA Encouraged Ginnie Mae is Acknowledging Risk Differences Between Large, Small IMBs
In an article about GInnie Mae rolling out stress testing of IMBs, CHLA is quoted expressing appreciation that Ginnie Mae is acknowledging risk differences between large and small IMBs.
Housing Wire reports on House Financial Services Committee passage of H.R. 3141, a bill to end FHA’s life of loan premiums. The article highlights CHLA’s support for the bill and opposition to Life of Loan, which adds $15,000 in fees over the life of a 30-year loan and is hurting FHA finances through refis to conventional loans. Click Here to read full article.
EXCERPT FROM ROB CHRISMAN NEWSLETTER The CHLA has weighed in with a letter to the CFPB, offering “a common sense approach to the issue of LO Compensation flexibility. Commonly an LO makes a loan offer, in conjunction with working with a potential borrower, sometimes for an extended period of time. Then, at the last minute the borrower solicits a competing offer at the last minute, at a lower rate. Unfortunately,
National Mortgage News: CHLA Supports Milken GSE Reform Plan for GSEs to Rebuild Capital and End Conservatorship
A National Mortgage News story highlights CHLA’s support for the Milken Institute’s GSE administrative reform plan to have Fannie and Freddie immediately rebuild capital – contrasting that with opposition from other groups like the MBA.
CHLA Joins Other Groups in Letter to FHA to Eliminate Indemnification Penalties for New Loans with Forbearance
CHLA, along with consumer groups and other trade groups, sent a letter to HUD Secretary Ben Carson, asked FHA to eliminate its recently adopted 20%
Housing Wire: FHA enacts temporary policy shift on forbearances; CHLA pushes back on 20% first loss penalty
A Housing Wire article on FHA’s announcement that it would impose a 20% first loss indemnification penalty on validly underwritten loans that go into forbearance