What’s Next for Special Purpose Credit Programs?

National Mortgage News, Dec. 10, 2021–Brad Finkelstein (subscription)
Now that HUD has clarified that special purpose credit programs do not create fair lending violations, it is unclear whether mortgage originators will actually start offering them in significant numbers. Few, if any, lenders offer these programs, said Pete Mills, senior vice president of residential policy and member engagement at the Mortgage Bankers Association.