Editor: David Reiss
Brooklyn Law School

August 2, 2016

Tuesday’s Regulatory & Legislative Roundup

By Robert Engelke

  • In a rare moment of bipartisanship before heading home for the summer, the Senate unanimously passed legislation that will require the FHA to lighten up on its condo financing regulations and make low down payment FHA loans more available to the people they are supposed to serve — moderate-income buyers, many of them minorities and first-time purchasers, who turn to condominiums as their most affordable option.
  • In a comprehensive report published Monday, the Treasury, HUD, and the FHFA say that while HAMP and HARP are set to end this year, the government plans to continue working with the mortgage industry on various loss-mitigation programs moving forward, but caution that the industry needs to be prepared to do more moving forward.
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