MBA, Black Homeownership Collaborative Urge HUD to Reduce FHA Mortgage Insurance Premiums

The Mortgage Bankers Association and several trade associations representing the Black Homeownership Collaborative sent a letter to HUD Secretary Marcia Fudge last week urging the Department to make meaningful reductions to the annual Mortgage Insurance Premium and suspend life-of-loan requirements for borrowers with FHA-insured loans.

MBA Commends HUD Guidance on Special Purpose Credit Programs

HUD on Dec. 7 released guidance clarifying special purpose credit programs that conform with the Equal Credit Opportunity Act and Regulation B generally do not violate the Federal Fair Housing Act.

MBA, Trade Groups Urge HUD to Issue ‘Clear Roadmap’ for Servicers in LIBOR Transition

As HUD considers changes to its index for FHA-insured adjustable-rate mortgages away from LIBOR, the Mortgage Bankers Association and other industry trade groups urged the Department to issue a clear roadmap for servicers of FHA-insured ARMs, including specification of a replacement comparable index or indices for existing mortgages, as well as guidance on communications with borrowers.

Administration Announces Steps to Increase Affordable Housing Supply

The Biden Administration on Wednesday announced a number of steps aimed at creating, preserving and selling to homeowners and non-profits nearly 100,000 additional affordable homes for homeowners and renters over the next three years, with an emphasis on the lower and middle segments of the market.