Adjustment for rising home prices increases FHA ceiling in high-cost markets like New York, San Francisco and Washington, D.C., and raises the floor in low-cost markets to $524,225.
Category: Regulations
Judge grants final approval to 9 commission lawsuit settlements
Judge Stephen Bough granted approval for settlements involving Compass, Douglas Elliman, @properties and other companies. Collectively, the companies will pay $110 million to resolve the litigation.
Fannie and Freddie will let more buyers off the hook for an appraisal
Appraisal waiver programs that rely on automated valuation models will be expanded next year to allow participation by homebuyers putting less than 20 percent down.
Trump, Harris housing policies emerging from the rhetoric
Housing policy has gotten short shrift in the debates, with a tight focus on immigration and inflation. But the candidates’ platforms — and Project 2025 — provide more details.
LoanSnap’s business dried up. Now regulators are after its licenses
Connecticut has entered into a consent decree revoking the fintech mortgage lender’s license, and LoanSnap has been put on notice by California regulators that they intend to do the same.
UWM and Rate join the $802K conforming loan limit party
With prices rising, it’s becoming standard operating procedure for big lenders like Rocket to help homebuyers avoid jumbo loan pricing by getting a jump on FHFA’s official announcement.
Trump allies formulating plans to privatize Fannie and Freddie
A new “Wall Street Journal” report reveals that talks about privatization have been taking place since the spring and have included Trump confidants Larry Kudlow and John McEntee.
Mortgage lenders gearing up to use more inclusive credit scoring
Release of historical credit scores on tens of millions of loans will help lenders prepare for transition to VantageScore 4.0 next year. Release of FICO Score 10 T data next on deck.
Consumers want lowest mortgage rate, but most won’t shop for it
ICE Mortgage Technology survey finds 84 percent of homeowners who have taken out a mortgage in the last five years only considered one or two lenders before closing the deal.
Industry gets some clarity on mortgage commission rules
Fannie, Freddie and FHA say sellers can continue to pay the buyer’s agent’s commission. But it remains to be seen if buyers will be allowed to finance their agent’s commission into their mortgage.