Items Tagged with 'DACA'

ARTICLES

  • From HW Magazine

    HOT or NOT August: What's trending in housing right now

    VA now backing larger loans, big banks become less profitable
    The Department of Veterans Affairs can now back loans that exceed the conforming loan limit, as a bill eliminating this cap was recently signed into law. Big banks are not as profitable as their independent competitors when it comes to the retail residential mortgage business.
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  • Prominent Senate Democrats want reversal of HUD policy on FHA mortgages for Dreamers

    Democrats move to guarantee government will back DACA mortgages
    A number of prominent Senate Democrats, including several who are running for president, want HUD to reverse the FHA's new policy of refusing to back mortgages for Deferred Action for Childhood Arrivals recipients. And the Senators also want to make sure that other government-backed loans are available to DACA recipients (also called Dreamers).
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  • From HW Magazine

    HOT or NOT May: What's trending in housing right now

    Trump administration looks into housing finance reform
    President Donald Trump directed the U.S. Department of Housing and Urban Development and the U.S. Department of the Treasury to compile reports on the reform of government-sponsored enterprises Fannie Mae and Freddie Mac. But Office of the Inspector General for the Department of Housing and Urban Development is looking into whether the White House interfered with aid approved for Puerto Rico as the island recovered from 2017’s Hurricane Maria.
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  • Fannie Mae declares support for DACA mortgage borrowers

    Reiterates guidelines on mortgages for non-citizens
    While it appears that the Federal Housing Administration may not be backing mortgages for Deferred Action for Childhood Arrivals recipients, Fannie Mae declared recently that it supports (and will continue to support) mortgages for DACA recipients, also called Dreamers.
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  • Dreamers denied: Evidence mounts FHA is not backing DACA mortgages

    Lenders back down as government actions disrupt home loans
    Despite HUD stating recently that its policies have not changed in regards to the FHA backing mortgages for Deferred Action for Childhood Arrivals recipients, it appears that the opposite is actually the case. Or at least that’s how the mortgage lending industry is reacting. A new HousingWire investigation has uncovered lender bulletins or guidelines from a dozen different lenders each stating that Dreamers are not eligible for FHA financing.
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  • Confusion reigns over whether government is backing mortgages for DACA Dreamers

    HUD claims nothing has changed, lenders are hearing differently
    The Department of Housing and Urban Development, Federal Housing Administration, and Department of Agriculture told HousingWire recently that their policies have not changed in regard to mortgages to Deferred Action for Childhood Arrivals recipients. But multiple lenders and mortgage industry participants tell HousingWire that HUD seems to be saying one thing and doing another.
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  • HUD to lenders: We are not denying mortgages to DACA Dreamers

    The status quo remains, for now
    The Department of Housing and Urban Development, Federal Housing Administration, Department of Agriculture, and Fannie Mae are not denying mortgages to Deferred Action for Childhood Arrivals recipients, the agencies told HousingWire this week. That’s in spite of what some in the mortgage industry are claiming the agencies are saying about lending to DACA recipients, also called Dreamers.
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  • From HW Magazine

    HOT or NOT February: What is trending in housing right now?

    Government shutdowns are on the rise
    Government shutdowns are increasing - happened three times in 2018. But HELOCs are down. After soaring to a near 10-year high, HELOC originations took an unexpected tumble in the third quarter of 2018, falling 14% from the previous quarter and 11% from the year before.
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  • Democrats demand answers from HUD on whether DACA recipients are being denied FHA loans

    Sens. Menendez, Booker, Cortez Masto call reported policy "abhorrent"
    Three of the Senate's most prominent Democrats want to know if DACA recipients are being denied FHA loans. Sens. Bob Menendez, Cory Booker, and Catherine Cortez Masto sent a letter to HUD Secretary Ben Carson demanding that Carson clarify whether HUD now has a policy (officially or unofficially) to deny FHA loans to Dreamers.
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