The Trump administration’s revived plan to privatize Fannie Mae and Freddie Mac is stoking fresh debate in Washington and on Wall Street, with experts warning that such a move could push mortgage rates higher and pose new challenges for homebuyers across the country. At the heart of the discussion lies a pivotal question: Can the U.S. housing market handle a shift away from government-backed mortgage guarantees?
The U.S. homebuilding sector found a modest silver lining in former President Donald Trump’s latest wave of tariff announcements. While much of the construction industry braces for higher costs, one crucial material—Canadian lumber—was notably spared from additional duties. That exemption, however, isn’t enough to ease broader concerns across the housing market, where rising costs and slowing demand are already testing builders' limits.
The U.S. homebuilding sector is feeling the heat as fresh tariff threats from former President Donald Trump’s policy platform stir up anxiety over rising construction costs, casting a shadow over what was shaping up to be a fragile housing market recovery. Shares of major homebuilders—like D.R. Horton, Lennar, PulteGroup, Toll Brothers, KB Home, Taylor Morrison, and Meritage Homes—have slid noticeably in recent days as investors weigh the potential financial fallout from escalating trade measures.
The Federal Housing Administration (FHA) has rescinded a number of appraisal policies instituted during the Biden Administration. In a Mortgagee Letter released last week, FHA rescinded three previous Mortgagee Letters released during the previous administration, effectively restoring the policies in place prior to these three letters.
Mortgage professionals can now access FICO’s Score Mortgage Simulator on the Xactus360 Verification Platform, the companies announced earlier this month. FICO announced the tool in October. It’s designed to simulate potential impacts to a consumer’s FICO score with hypothetical changes in credit report data. Examples include a potential borrower reducing their credit card balance or getting rid of a collection account.
Federal inspectors are taking the United States Treasury Department to task for not doing enough to increase participation in the government’s Home Affordable Modification Program (HAMP) which helps keep homeowners out of foreclosure. Borrowers having trouble paying their monthly payment can apply for a HAMP for a loan modification that lowers their monthly payment. So far, 1.5 million homeowners have received HAMP modifications, about half as many as originally predicted by the Treasury. The department has repeatedly extended the program’s initial December 2013 deadline; HAMP iis now scheduled to expire in December 2016.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
On Friday, April 24, 2015 HUD announced some significant changes to its Distressed Asset Stabilization Program (DASP). These changes were made in an effort to better serve homeowners looking to avoid foreclosure, loan servicers will now be required to delay foreclosure for a year and to evaluate all borrowers for the Home Affordable Modification Program (HAMP) or a similar program.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
While driving to work virtually every day I hear numerous advertisements for borrowers to apply for or to apply for a mortgage modification. The general public and mortgage professionals are unaware of the rules in order to obtain a Home Affordable Modification Program mortgage loan.
Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.
Written By: Bonnie Wildt
I have said it before and I will say it again and that is, do not believe everything you hear or read for that matter. In this particular instance I am referring to AUS Findings. I have had countless conversations with processors and loan officer who want to know why I am asking for documentation that the AUS findings have clearly stated wasn’t needed or worse, they can’t believe I am turning a loan down that has an Approve/Eligible. So here it is again and pay particular attention to the details because just because you have an Approve/Eligible or Accept doesn’t necessarily mean you have a done deal.