CHLA In The News
HousingWire- NAR wants VA to change rules that prohibit veteran buyers from paying broker commissions
In a letter submitted to Bell on Monday, the CHLA called on the VA to expedite regulatory change that would allow veterans and active-duty service members to fund buyer-broker commissions when purchasing a home with a VA mortgage.
Inside Mortgage Finance – CHLA Brings Employment-Verification Costs to Regulators
CHLA asked FHFA and FHA to scrutinize the fees, suggesting that they have characteristics similar to the “junk fees” that the Consumer Financial Protection Bureau is going after.
National Mortgage News – CHLA protests employment verification costs
The Community Home Lenders of America sent a letter to housing officials challenging verification of employment report charges by Equifax, raising questions about whether they are excessive fees in the mortgage process.
HousingWire – Equifax’s Work Number is too expensive and regulators should look into it: CHLA
“Borrowers are not generally aware of this cost, but the impact is clear,” said the CHLA. “Because these employment verifications are a requirement of the loan, the costs get passed along to the borrower.”
NAR changes could hurt homebuyers, experts say
“We have noticed for several years that sellers already discriminate against first-time home buyers using FHA loans, as opposed to say all-cash buyers,” he said. “And what we don’t want to happen is that in this process, that phenomenon is going to be exacerbated.”
National Mortgage news – NAR changes commissions rules with $418M settlement
As details of the settlement were unfolding Friday, mortgage industry trade groups said they were monitoring the news. The Mortgage Bankers Association said it would watch for commission updates, while the Community Home Lenders Association said Friday’s announcement was consistent with its previous calls to regulators.
HousingWire- NAR wants VA to change rules that prohibit veteran buyers from paying broker commissions
In a letter submitted to Bell on Monday, the CHLA called on the VA to expedite regulatory change that would allow veterans and active-duty service
CHLA Commends FHFA for Reviving Its Title Insurance Pilot Program
(Washington, D.C.) – The Community Home Lenders of America (CHLA) commends FHFA for reviving a pilot program that would offer an alternative to title insurance –