Opinion: Community Home Lenders Of America To Influence Mortgage Policies In Washington

Editor’s Note: This article was written by a contributor and contains the individual’s views, opinions, or personal experiences. Last week, we announced the merger of the Community Mortgage Lenders of America and theCommunity Home Lenders Association under a renamed Community Home Lenders of America (CHLA). To date, both organizations have represented a similar profile of members and have historically taken similar policy positions. After extended discussion, we both concluded that combining CMLA and CHLA would mean more members, more financial resources, and more combined staff. This would enhance our ability to influence mortgage policies in Washington and explain the key role community lenders and in particular smaller independent mortgage banks (IMBs)—play in mortgage lending. Policy fights in Washington are not…

CHLA Says FHA Should Cut Premiums, End Life Of Loan

In its budget proposal this week, the Biden Administration allotted a 34% budget increase for the Department of Housing and Urban Development of $11.6 billion over the fiscal year of 2022. This proposed budget includes $32 billion for the Housing Choice Voucher Program and almost $2 billion for the HOME Investment Partnership, aimed at affordable housing strategies. The industry has so far applauded the budget for its investments in housing as affordability dwindles and many Americans struggle to find housing within their budget. “A president’s budget is a wish list of policy goals and ambitions,” Shannon McGahn, the National Association of Realtor’s chief advocacy officer, said. “Many changes will be made to this plan, but it is good news that…

CHLA Asks FHFA To Delay April Fee Hikes

The Community Home Lenders Association (CHLA) sent a letter to FHFA Acting Director Sandra Thompson asking for adjustments to upcoming Fannie Mae and Freddie Mac fee increases. On January 5, the Federal Housing Finance Agency (FHFA) announced “targeted increases” on upfront fees for certain high balance loans and second home loans, to go into effect April 1. Its stated goal is to “minimize market and pipeline disruption.” “These targeted pricing changes will allow the Enterprises to better achieve their mission of facilitating equitable and sustainable access to homeownership, while improving their regulatory capital position over time,” Thompson said in a press release. “Today’s action represents another step FHFA is taking to strengthen the Enterprises’ safety and soundness and to ensure…