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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 – an initiative that could save first-time and low- to moderate-income homeowners a significant amount of money in closing costs on their refinance. “CHLA applauds FHFA for this title pilot as it could save homeowners thousands of dollars when refinancing their

CHLA Applauds Biden’s Tax Credit Initiative

CHLA Applauds Biden’s Tax Credit Initiative (Washington, D.C) – Community Home Lenders of America (CHLA) commends the Biden administration for the initiatives to increase homeownership affordability – particularly through the Mortgage Relief Credit. “As noted in Biden’s State of the Union address, the proposed Mortgage Relief Credit initiative will lower homeownership costs by reducing the mortgage rate by 1.5 percentage points for two years on a

CHLA Statement on FHFA Updating its Credit Score Requirements

CHLA Statement on FHFA Updating its Credit Score Requirements (Washington, D.C) – Community Home Lenders of America (CHLA) Executive Director Scott Olson released the following statement regarding the Federal Housing Finance Agency (FHFA) announcing key updates to its credit score requirements. “CHLA commends FHFA and Director Thompson for updating its credit score requirements. The details of these updates will be important, and we look forward to working with FHFA over the

CHLA Statement on Fannie Mae’s Enhancement of Notice of Potential Defect

CHLA Statement on Fannie Mae’s Enhancement of Notice of Potential Defect (Washington, D.C.) – CHLA Executive Director Scott Olson released the following statement regarding Fannie Mae’s release late last week of their “Notification of Potential Defect.” “CHLA commends Fannie Mae and CEO Priscilla Almovodar for last week’s release of Fannie’s ‘Notification of Potential Defect’ – an alternative process for repurchase demands. This new step in the quality control process gives mortgage lenders the opportunity to address loan defect concerns earlier

CHLA Celebrates One-Year Anniversary of FHA Premium Cut

CHLA Celebrates One-Year Anniversary of FHA Premium Cut (Washington, D.C.) – On the one-year anniversary of HUD’s announcement of FHA’s action to cut annual premiums on FHA loans by 30 basis points, the Community Home Lenders of America (CHLA) issued the following statement: “One year later, it is clear that last year’s FHA premium cut is making a difference in the lives of families who want to own

CHLA Applauds FHA’s Elimination of Their Mandatory Mortgage Branch Registration Requirement 

CHLA Applauds FHA’s Elimination of Their Mandatory Mortgage Branch Registration Requirement  (Washington, D.C.) – Community Home Lenders of America (CHLA) applauds the Federal Housing Administration’s (FHA) efforts to streamline the loan origination process through the elimination of their mandatory mortgage branch registration requirement.  “CHLA applauds FHA for publishing a final rule that eliminates the requirement for lenders to register the branch offices where they conduct

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