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"I fear waking up one day and having our systems shut down because they're so old," said acting FHA Commissioner Biniam Gebre.
The Federal Housing Administration could finally get something it desperately needs: upgrades to its outdated technology infrastructure. But industry groups object to the new fee being proposed to generate the necessary funding.
"With a disciplined approach to offering these programs, we can offer them in a safe way," said Tom Hutchens, senior vice president of Angel Oak Mortgage Solutions.
Lenders who make or buy non-qualified mortgages are learning how to get more of a handle on the risks, in part by ensuring they don't stray too far away from QM boundaries.
The Consumer Financial Protection Bureau issued a proposal Thursday that would institute new foreclosure protections for consumers after the agency found its previous mortgage rules didn't go far enough.
Fannie Mae and Freddie Mac's new low down payment loans products may not represent such a risk to the Federal Housing Administration program as some have feared.
Only eleven months after cheering Federal Housing Finance Agency Director Melvin Watt's confirmation, Senate Democrats are fed up with the pace of reforms at the agency.
The Federal Housing Administration's mortgage insurance fund is finally in the black, but not strong enough that the agency is likely to lower premiums anytime soon.
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