Regulators issued a proposal on Friday that would require banks to escrow premiums and fees for flood insurance on mortgages made or refinanced after Jan. 1, 2016.
The Ryland CEO says new Fannie and Freddie low-down-payment loan products could have a big impact on next spring's selling season.
Most of the securitized single-family market is currently exempt, but only a tiny part of the commercial equivalent is. However, nonexempt commercial will get more expensive to issue, and the single-family exemption could change.
Mortgage lenders will have 210 days to fix errors in their calculations of points and fees and reimburse borrowers for any overages under a final rule issued by the Consumer Financial Protection Bureau.
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