The Federal Housing Administration this week issued a draft proposal seeking feedback to its requirements for insuring mortgages on single-family homes with Accessory Dwelling Units, popularly known as “granny flats.”
Category: News and Trends
Dealmaker: Gantry Secures $12M for Seattle Multifamily
Gantry, San Francisco, secured $12.3 million to refinance a fee-simple ground lease in Seattle’s Fremont neighborhood.
Maureen Townson of Enact: Keeping Homebuyer Education Current and Relevant for Borrowers
April is Financial Literacy Month. As mortgage professionals, we have the opportunity – and responsibility – to educate borrowers about homeownership from beginning the homebuying process to discussing what happens after the loan closes.
Industry Briefs Apr. 14, 2023: FHA Extends COVID-19 Forbearance, HECM Extension Policies through May 31
The Federal Housing Administration published Mortgagee Letter 2023-08: Extension for COVID-19 Forbearance and COVID-19 Home Equity Conversion Mortgage Extensions, setting May 31 as the final date for borrowers requesting a COVID-19 forbearance or a COVID-19 Home Equity Conversion Mortgage Extension.
People in the News Apr. 14, 2023: CONVERGENCE Memphis Names Doreen Graves Executive Director
CONVERGENCE Memphis Inc. named Doreen Graves Executive Director, responsible for leading efforts to strengthen ties within the local Memphis community to promote affordable housing and increase Black homeownership.
Quote: Apr. 14, 2023
“At a time when housing supply is constrained and ADUs are gaining popularity nationwide, an updated policy has the potential to expand opportunities for low- and moderate-income homeowners to benefit from the wealth building potential of ADUs while supporting the affordable housing needs of their communities.”
–FHA Commissioner Julia Gordon.
Souren Sarkar, CMB, of Nexval: What Recent Flight Fiascos Can Teach Us About Investing in Technology
If mortgage servicers ever needed an argument to not hold back on technology investments, they need look no further than the recent fiascos in the airline industry.
Sponsored Content from Equifax: The Potential Positive Impact of Telecommunications, Pay TV and Utility Payment Data on Mortgage Lending
While credit reports continue to provide an indication of credit history and past financial behaviors, reviewing various forms of differentiated data sets, such as telecommunications (telco), pay TV and utilities insights, can help provide greater visibility into a borrower’s financial profile and increase opportunities for homeownership for more than 191 million American consumers
Ask the Expert with Monica Bolin of Ncontracts: How to Draft Risk Assessments
Creating the most effective risk assessments involves a combination of research, analysis, experience and collaboration. Monica Bolin is a risk management expert with Ncontracts and former chief risk officer with more than three decades of experience in the banking industry.
Augie Del Rio of Gallus Insights: It’s THE Mortgage Great Depression, and We’re Flying Under the Perfect Storm
I am a big fan of metaphors, and it is no exaggeration to say the mortgage industry is currently flying under the perfect storm with no sunshine or improved conditions in sight.