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August 21, 2018

HUD doubles down against discrimination practices

HousingWire--Kelsey Ramírez

The U.S. Department of Housing and Urban Development is doubling down on charges it is bringing against housing companies for discrimination.

This week, HUD brought charges against or settled with housing companies in Massachusetts, California and South Dakota.

Monday, HUD announced it was charging Massachusetts housing providers with discriminating against residents with disabilities. It charged Granby, Massachusetts-based property owner Pleasant Valley Estates and...


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Webinar: Agency and Regulatory Reporting Essentials
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August 21, 2018

Fannie Mae How will the gig economy shape mortgage lending?

Our quarterly Mortgage Lender Sentiment Survey® asked lenders their views on using gig economy income in mortgage underwriting. The results showed that a strong majority of lenders have had borrowers apply for a mortgage using gig economy income and an even stronger majority expect that number to grow in the coming years. 
Agency | GSE News

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August 21, 2018

Trump Administration Plans to End Military Lending Act Prohibition on Offering GAP Insurance to Service Members in Auto Loan Transactions

Ballard Spahr LLP--Rachel R. Mentz

NPR reported last week that the Trump Administration is planning to end the current prohibition under the Military Lending Act (“MLA”) against creditors offering service members GAP insurance in connection with credit intended to finance the purchase of motor vehicles. Current interpretive guidance concerning the Department of Defense’s regulations implementing the MLA prohibits...


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ACES Intelligent Questionnaires
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August 21, 2018

Fannie Mae, Freddie Mac ending expansion into single-family rentals

HousingWire--Ben Lane

Over the last year or so, Fannie Mae and Freddie Mac both expanded their presence in the single-family rental market, with both of the government-sponsored enterprises beginning to fund single-family rental investments for larger players in the market.

But that expansion is about to end.

The Federal Housing Finance Agency announced Tuesday that Fannie and Freddie will both be shutting down their single-family rental pilot...


Agency | GSE News
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August 21, 2018

AIME scores big win for brokers

Mortgage Professional America--Ryan Smith

The Association of Independent Mortgage Experts (AIME) recently announced the creation of a mortgage brokers’ protection addendum – an agreement between wholesalers and brokers that wholesalers won’t practice “whole-tail” lending, or using brokers simply to feed new clients into their own retail channels.

According to Anthony Casa, chairman of AIME, the addendum is a way to ensure...


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