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News Clips

HousingWire , Tuesday, November 25, 2014
(RECAP: There is a key provision buried in the Transportation, Housing and Urban Development and Related Agencies Appropriations Act for Fiscal Year 2015 that if implemented, is causing lenders to be concerned about the potentially costly impact it could have to them. The provision contained in Senate Bill 2438 would assess a new fee on lenders to fund certain risk management improvements in the FHA mortgage insurance program.)
Bloomberg, Tuesday, November 25, 2014
(RECAP: As the economy produces an increasing number of part-time jobs, that trend is colliding with rules that limit their value for homebuyers. The restriction, enacted after the housing crash, makes it more difficult for lenders to consider secondary income, resulting in a growing pile of loan denials.)
NCSHA, Monday, November 24, 2014
(RECAP: The FHFA released on November 21 the final version of its strategic plan for fiscal years 2015-2019. The plan outlines FHFA's goals and priorities for overseeing Fannie Mae, Freddie Mac, and the Federal Home Loan Banks (FHLBs). FHFA's strategic plan discusses several steps that FHFA will take to help Fannie Mae, Freddie Mac, and the FHLBs maintain liquidity in the housing finance market. Notably, FHFA pledges to work with both Fannie Mae and Freddie Mac to address those barriers that prevent them from working with state HFAs.)
Mortgage News Daily , Monday, November 24, 2014
(RECAP: The Federal Reserve has completed its latest round of Quantitative Easing, the government sponsored enterprises (GSEs) Freddie Mac and Fannie Mae are under orders to continue shrinking their investment portfolios and significant constraints exist to keep private investors from purchasing agency mortgage-backed securities (MBS). So who, the Mortgage Bankers Association (MBA) asks, is going to pick up the slack? A white paper written by MBA's vice president and senior economist Michael Fratantoni, lays out the conundrum facing the MBS market.)
CFPB Monitor , Monday, November 24, 2014
(RECAP: The U.S. Supreme Court has set January 21, 2015 as the date for oral argument in
Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc., which is the case presenting the issue whether disparate impact claims are cognizable under the Fair Housing Act. The petitioners’ merits brief was filed on November 17th.)
HousingWire , Monday, November 24, 2014
(RECAP: The Federal Housing Finance Agency has announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2015. For much of the country, the conforming loan limit for a one-unit property (or single-family home) will remain at $417,000 for 2015. According to the FHFA, the loan limits are established under the terms of the Housing and Economic Recovery Act of 2008 and are calculated each year.)
WRIC TV8, Sunday, November 23, 2014
(RECAP: Residents of the Bermuda Run Apartments off Jefferson Davis Highway will have to find a new place to live by the end of February. All of those residents receive housing assistance to pay for the rent. The owner of the 100 units had a Section 8 Housing Assistance Program contract with the U.S. Department of Housing and Urban Development. But the owner has decided to not renew the contract. “Meaning the residents would no longer be able to live in the apartments and receive assistance from HUD,” said Lisa Wolfe, the Regional Public Affairs Officer at HUD, in a phone interview.)
Mortgage News Daily , Friday, November 21, 2014
(RECAP: The Consumer Financial Protection Bureau (CFPB) has proposed some new measures affecting the way servicers handle mortgages in various stages of default. CFPB said that the proposal reflects the continued consultation with consumer advocacy groups, industry representatives and other stakeholders which has been ongoing since its mortgage servicing rules took effect. The proposed rule will be open for public comment for 90 days after its publication in the Federal Register.)
Multi-Housing News , Friday, November 21, 2014
(RECAP: Arlington Mill Residences, an affordable housing community in Arlington, Va. has been named “Best Housing Development in Virginia.” The recognition represents the most prestigious award presented at the recent Virginia Governor’s Housing Conference Awards Luncheon. Designed by Rosslyn, Va.-based KGD Architecture, an architectural, interiors and planning firm, the property is a trailblazing project in several ways.)
NCSHA, Thursday, November 20, 2014
(RECAP: The FHFA will determine whether Fannie Mae and/or Freddie Mac should begin making contributions to the Housing Trust Fund by the end of the calendar year, FHFA Director Mel Watt told the Senate Banking Committee on Wednesday. Watt addressed the Committee during its hearing on “The Federal Housing Finance Agency: Balancing Stability, Growth, and Affordability in the Mortgage Market.”
At the hearing, Senator Jack Reed (D-RI) urged Watt to require Fannie Mae and Freddie Mac to begin making contributions to the Trust Fund. Previous Acting-FHFA Director Ed DeMarco suspended the payments -- before the first ones had been made -- after FHFA took both firms into conservatorship.)
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