“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… Read More »FHA unveils proposal for a new partial claim option
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… Read More »CHLA Commends FHA Commissioner Gordon for New Proposal to Keep Homeowners in their Home
“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… Read More »Leaders struck a debt ceiling deal. What does it mean for mortgages?
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.
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.
The Community Home Lenders of America (CHLA) today sent a letter to the Consumer Financial Protection Bureau, asking the agency to adopt basic rules to protect homebuyers from situations where one individual may control both the brokerage and mortgage origination functions. Such control by one individual in a home purchase transaction could lead to conflicts that harm the financial interests of the consumer.
The Community Home Lenders of America (CHLA) said due to the rapid rise in interest rates over the past year, “our consensus member conclusion is that the average loss to the lender is now 30% on every loan repurchase.”
The Community Home Lenders of America (CHLA) today sent a letter to FHFA, Fannie Mae, and Freddie Mac – asking Fannie and Freddie to adopt… Read More »CHLA Asks FHFA for GSE Repurchase Policy Changes – to Protect Consumers, Lenders, and Underserved Borrowers
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… Read More »CHLA letter to FHFA: GSEs should offer indemnifications instead of repurchases for performing loans
According to Scott Olson, executive director of the Community Home Lenders of America, it’s not always clear when, how or whether a property will be… Read More »inside mortgage finance – lenders call for updates to fha condo loan process