The U.S. Department of the Treasury on Monday announced that it has issued a notice of proposed rulemaking (NPRM) to expand the Committee on Foreign Investment in the United States (CFIUS)’ authority to review real estate transactions near military installations by foreign buyers. CFIUS is an inter-agency government committee that…
Continue reading →At the National Reverse Mortgage Lenders Association (NRMLA) Eastern Regional Meeting in May, Acting Ginnie Mae President Sam Valverde said that the government-owned company planned to release a term sheet for a newly proposed Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program sometime in the next month. After the industry’s…
Continue reading →Nationally, the housing market indicators have been slow for several months now. There have been a few markets; however, that have defied the national trends where inventory has stayed tighter and demand keeps rolling in. Available inventory of unsold homes in the U.S. is 40% more now than last year,…
Continue reading →The Community Home Lenders of America (CHLA) on Monday submitted a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, urging the agency to more forcefully go after trigger lead solicitations. To cement the point, CHLA is calling such solicitations “junk calls,” echoing the language of the campaign the…
Continue reading →An historic home in Chicago’s Austin neighborhood designed by architect Frank Lloyd Wright in 1903 is in serious need of repairs and renovations, but an existing reverse mortgage loan is complicating the process of initiating the work. This is according to original reporting by Crain’s Chicago Business and subsequent coverage…
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