[Alice] Thanks, Dave. Hello, everyone. First up is the change in the maximum loan limits today. Lenders across the country are announcing that they are all okay with conventional loan limits moving up to $802,650. This is an increase from the $766,550 that we used in 2024. Now that gap in between those two numbers means a couple of things. Means we … [Read more...]
Navigating Housing Legislation Stalemates and the Impact of Realtor-Lender Agreements – Legislative Update by Alice Alvey
[David] We got Alice Alvey here, Vice President of Partner Education and Training for Union Home Mortgage. Good to have you here, Alice, with the Legislative Update. Love your thoughts on all the things going on in the industry as well. [Alice] Thanks, Dave and hi everybody. It is a slow legislative time of year as usual with the Congress, as … [Read more...]
Essential Compliance Measures for Reconsideration of Value: Meeting the October 31st Deadline – Legislative Update by Alice Alvey
[Alice] Hello, everyone. Today we have a very exciting topic on the interagency guidance on a request for Reconsideration Of Value. So you may have heard last week that we have an extension until October 31st to get this done. You have two main things you must get done by October 31st. The first thing I'm going to tell you is you've got to make … [Read more...]
Exciting Changes to FHA’s 203K Rehab Program: Expanded Limits and Extended Timelines – Legislative Update by Alice Alvey
[Alice] Hello everyone. Alice Alvey here took walkthrough the new 203K changes that we have that came out from FHA. So this is Mortgagee letter 24-13 about the 203K program. For those of you who aren't familiar with this, FHA has a rehab program that has two different categories. There's a 203K Limited and a 203K standard. The biggest difference … [Read more...]
Understanding VA and Chevron Deference: Key Updates and Market Implications – Legislative Update by Alice Alvey
[David] Let's get over to Alice Alvey. So good to have you here. Alice she's Vice President, Partner, Education and Training at Union Home Mortgage. And she's here with a Legislative Update. So, anything you have on that, but really interested in talking about what you reported on last week via recording. Really fascinating. So any new updates you … [Read more...]
Navigating the Post-Chevron Deference Legal Landscape: What It Means for Industries – Legislative Update by Alice Alvey
[Alice] Hello everyone. Well, by now you may have already heard of the Supreme Court case regarding the Chevron deference. So, basically what we now have as a change is that when the Supreme Court ruled on this, they're essentially saying that the Chevron deference doctrine, is overturned. And so they are now holding that federal courts may not … [Read more...]
Freddie Mac Launches Second Mortgage Pilot: What Lenders Need to Know – Legislative Update by Alice Alvey
Hello, everyone. Well, as you may have heard, the Federal Housing Finance Agency has authorized and approved Freddie Mac conducting a pilot on second mortgages, and I should say offering second mortgages. So here's what we know so far. This is based on essentially the proposal that was published that we did talk about on this show a few episodes … [Read more...]
Understanding VA Circulars and CFPB Proposals – Legislative Update by Alice Alvey
[David] And so let's get over to Alice Alvey, Vice President, Partner Education and Training at Union Home Mortgage. Here with the Legislative Update, Alice, thank you so much for being here. And also for your partnership to this podcast for 15 years. Thank you so much. [Alice] You're welcome. Oh, excuse me. You're welcome, Dave. Happy to be … [Read more...]
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