Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
CUNA seeks comment on FHA loan insurance changes
WASHINGTON (7/26/10)--The Credit Union National Association (CUNA) has asked credit unions to comment on new credit score requirements imposed by the Department of Housing and Urban Development’s (HUD) proposed changes to Federal Housing Administration (FHA) loan insurance standards. The HUD proposal would alter the FHA’s credit score requirements, the level of seller concessions; and the standards for loans that are underwritten manually. HUD in a release said that these changes are aimed at preserving “both the historical role of the FHA in providing a home financing vehicle during periods of economic volatility and HUD’s social mission of helping underserved borrowers.” The proposal is also meant to strengthen the reserves of the fund that covers FHA losses, CUNA added. CUNA has specifically asked for credit unions for their comments on the proposed decrease in the maximum permitted seller concessions or the underwriting standards for manually underwritten loans. Comments are due to CUNA by Aug. 9. Comments to HUD should be submitted by Aug. 16. For the comment call, use the resource link.


RSS





print
News Now LiveWire
.@CoreLogicInc: Jan. home prices jump nearly 6% annually #Market #NewsNow http://t.co/DoDtHhjvaw
1 hour ago
CU Effect: @StLouisComm collaborates to save homes with FHLB grant #NewsNow http://t.co/fxX8EhouUj
6 hours ago
#NewsNow March 31 deadline for Biz Kid$ fin. ed grant application http://t.co/5AD5ZYPLEU
7 hours ago
.@CUNA sends letters on @RepAndyBarr QM bill, @RepMickMulvaney @NCUA budget transparency bill #NewsNow http://t.co/cRAk46ALeD
8 hours ago
The U.S. Court of Appeals restored NCUA lawsuit v. Barclays Capital that charged misrepresenting quality of $550M IN RMBS. See News Now Wed.
23 hours ago