Skip to main content

Trilogy Commercial Lending launches phase one of Pinnacle IT Development’s commercial automated underwriting system

National Mortgage Professional
Jun 17, 2008

ICBA supports finance board plan for affordable housing MortgagePress.comICBA, Independent Community Bankers of America, Federal Housing Finance Board, Ann Grochala The Independent Community Bankers of America (ICBA) supports the Federal Housing Finance Board's (FHFB) proposal to use Affordable Housing Program (AHP) subsidies--available through the Federal Home Loan Banks (FHLBs)--to help homeowners struggling with the burdens of unaffordable mortgages. "This is another way for the Federal Home Loan Banks to support housing and use their resources to help homeowners stay in their homes during this difficult time," said Ann Grochala, ICBA's director of lending and accounting policy, in a comment letter to the FHFB. The FHFB proposes to temporarily allow FHLB members to use a portion of AHP subsidies to refinance or restructure eligible households' non-traditional or sub-prime owner-occupied mortgages. ICBA also called on the FHFB to ensure that AHP subsidies are used appropriately. "ICBA urges the finance board to ensure that the final rule contains the appropriate safeguards to ensure that AHP subsidies help homeowners in trouble, not bail out the irresponsible lenders that put them there, said Grochala. "Unfortunately, some lenders used predatory practices and were more concerned about making the loan than ensuring that it was an affordable loan for the borrower. The result has been too many homeowners across the country facing foreclosure. ICBA agrees with the Finance Board's position that AHP subsidies should not be used to compensate FHLB members for earnings foregone on the original loan, particularly when a loan may have carried an interest rate well above market rates." For a copy of ICBA's comment letter to the FHFB, click here.
Jun 17, 2008
CHLA Advocates Attorney Opinion Letters As Alternatives To Title Insurance

CHLA asks FHFA to explore use of the letters.

Dec 06, 2023
Helping the H.E.L.P.E.R.s

Federal bill poised to open up market to more teachers, first responders

Dec 01, 2023
Fidelity National Financial Hit By Cyberattack

Industry-leading provider of title insurance and settlement services radio silent on reported breach.

Nov 28, 2023
Citizens Bank Bids Farewell To Wholesale Mortgage Channel

In a strategic pivot, the Providence-based banking giant will stop accepting new wholesale mortgage submissions.

Nov 16, 2023
Surprising Surge In Mortgage Customer Satisfaction, J.D. Power Study Reveals

Study found first-time homebuyers were harder to satisfy, customers don't just shop rates.

Nov 16, 2023
Women Continue To Defy Homebuying Challenges, Representing 22% Of The Market, Survey Finds

Young, educated, diverse, and increasingly savvy, women homebuyers navigate homeownership hurdles with determination.

Nov 15, 2023