Organization Root Tag

The co-founder of Arch Capital Solutions reviews the changes made to reporting disclosures on mortgages for condominiums and units located in HOAs that were part of a response to the tragic condo collapse in Surfside, Florida.

The borrower sent bogus documents to a settlement company claiming a $111K lien was satisfied to complete a sale.

But economists predict upward pressure in the coming months after comments from Federal Reserve Chair Jerome Powell.

Federal Reserve Chair Jerome Powell said the central bank was ready to raise interest rates in March and didn’t rule out moving at every meeting to tackle the highest inflation in a generation.

The rule addresses concerns related to what has previously been a lack of coverage for funds used to cover delinquent borrowers’ principal and interest payments, and clarifies guidance for specific situations.

And a recent slowdown in government-backed loan issuance is pushing average purchase amounts to another record high.

Eleven other defendants participated in the elaborate scam, which led to approval of unqualified buyers and numerous defaults of FHA-backed mortgages.

The deal gives Blackstone a portfolio of 42 garden-style apartment communities totaling more than 12,600 units in 13 states, including Texas, Arizona, Florida, Colorado and Georgia.

Treasury dealers and investors are busy trying to predict exactly when the Federal Reserve might pull the trigger on cutting the size of its balance sheet and how big that drawdown could be when it does.

The mortgage industry has long sought a reduction, which could make homes more affordable to entry-level buyers with limited incomes, but such a measure also would limit the agency’s claims-paying resources.