The Federal Housing Administration (FHA) published policy retractions for its single-family mortgage insurance program, spanning the loan origination process from application through endorsement. According to a press release, the FHA is “cutting red tape to more effectively … reduce the costs of homeownership for American families by removing policies that have increased regulatory and financial burdens.”
Pending home sales increased in May both from April and year-over-year, according to the National Association of Realtors Pending Home Sales report.
The Federal Housing Finance Agency’s seasonally adjusted monthly House Price Index reported house prices fell slightly from March to April but rose year-over-year.
The Federal Housing Administration published a request for information regarding Buy Now, Pay Later loans in the Federal Register.
New Jersey-based mortgage subservicer Cenlar FSB submitted a notice regarding the total closure of its facility in O’Fallon, Mo., as well as dozens of layoffs beginning July 22.
CEO of Realtor.com Damian Eales shared his thoughts on the National Association of Realtors’ Clear Cooperation Policy in a blog post June 16, supporting the policy as the core of a “consumer friendly marketplace.”
Credit availability rose by 2.1 percent in May, according to the Mortgage Bankers Association’s Mortgage Credit Availability Index, which is calculated using data provided by ICE Mortgage Technology.
President Donald Trump recommended a $33.6 billion cut in the U.S. Department of Housing and Urban Development’s funding. The National Fair Housing Alliance, the National Association of Home Builders and the National Low Income Housing Coalition have all expressed concerns about the long-lasting impact of these cuts.
The American Land Title Association announced June 10 that Chris Morton has been named CEO, effective immediately. Morton succeeds Diane Tomb, who served as CEO for the past six years.
Cover Story: