Recent developments in the Federal Housing Administration's Home Equity Conversion Mortgage program are making it easier for lenders to originate reverse mortgages to borrowers who want to buy a new-construction home.
The JPMorgan Chase CEO is rejecting arguments that banks are poised to loosen underwriting standards to win more mortgage business. He said what's needed to encourage banks to make more loans to borrowers with spotty credit files are changes to FHA rules and other policy fixes.
Adolfo Marzol, an official at the Department of Housing and Urban Development, is optimistic that technological improvements and other changes can help draw Federal Housing Administration lenders back to the fold.
More than 100 pending Trump administration nominees, including Fed Chair-designate Jerome Powell, must update their financial disclosures and have the White House resubmit their names for consideration by the Senate.