Category Archives: Legislation
FHA Extends Waiver on House Flipping Rules
December 29, 2011WASHINGTON (CN) – The Federal Housing Administration will extend a waiver on its anti-flipping regulations until Dec. 31, 2012. ”This extension is intended to accelerate the resale of foreclosed properties in neighborhoods struggling to overcome the possible effects of abandonment … Continue reading
Senate Backs Plan to Help Americans Buy Homes
October 21, 2011The Senate voted 60-38 to continue to allow the government to buy or insure home loans for as much as $729,500 in expensive housing markets. The higher conforming loan limit lapsed at the end of September, falling back to $625,500, … Continue reading
Without Loan Giants, 30-Year Mortgage May Fade Away
March 4, 2011If Washington winds down Fannie Mae and Freddie Mac, experts say the 30-year fixed mortgage could morph into a luxury product as interest rises and lenders begin to charge for formerly free features, like the ability to lock in a … Continue reading
Fed Abandons Proposed TILA Rules
February 4, 2011Finalization of new Truth-in-Lending-Act rules by the Federal Reserve will likely be abandoned — a move mortgage bankers have been lobbying for.A statement Tuesday indicated the Federal Reserve Board does not expect to finalize three pending rulemakings under Regulation Z, … Continue reading
FHA extends 'anti-flipping' waiver
February 1, 2011Agency study: property-flip loans do not pose excessive credit risk Homebuyers relying on FHA-insured financing will still be able to buy homes that have changed hands in the last 90 days, thanks to a decision by the Federal Housing Administration … Continue reading
ARM, Reverse Rules Released
August 18, 2010WASHINGTON — In just a few months, mortgage lenders will be required to provide new disclosures for adjustable-rate mortgages. New disclosure requirements for reverse mortgages are also on the horizon. The Federal Reserve on Monday issued a package of rules … Continue reading
New HUD Protocol Offers Older Adults More Information and Deeper Financial Assessment, Using Tools and Materials Developed by NCOA
August 5, 2010WASHINGTON, Aug. 4 /PRNewswire-USNewswire/ — The U.S. Department of Housing and Urban Development (HUD) now requires all HUD-approved reverse mortgage counselors to provide their clients with the National Council on Aging’s (NCOA) 28-page consumer booklet on reverse mortgages. In addition, … Continue reading
Dodd-Frank Wall Street Reform passes Senate and heads to White House
July 15, 2010“The U.S. Senate has announced the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act (HR 4173) by a vote of 60-39. The 2,300-plus-page bill, HR 4173, is intended to address the problems that led to our nation’s economic collapse, will add new … Continue reading
Regulatory Reform Set to Clear Senate
July 15, 2010As National Mortgage news online reports www.nationalmortgagenews.com The Senate Thursday morning voted 60-38 to break a filibuster on the Dodd-Frank Wall Street Reform bill, clearing the way for final passage in the afternoon. Senate majority leader Harry Reid said the landmark … Continue reading
Great news for FHA lenders from Congress
June 29, 2010Federal Housing Administration (FHA) lenders will be exempted from new “risk retention” rules, which is great news for companies who issue loans insured by the government. National Mortgage News reports that [t]he legislation finalized by the conference committee late last … Continue reading
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Greg Frost's Corner
I recently attended the annual Mortgage Bankers Association lobbying day in D.C. with 5 of my industry colleagues from New Mexico. It was a very insightful experience.
It is apparent to me that there is a prevailing feeling in both the House and Senate, along with the Executive Branch, that our government should reduce [...]
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