A group of Senate Democrats have called on HUD Secretary Ben Carson to reverse his agency’s opinion that borrowers in the Deferred Action for Childhood Arrivals program are ineligible for FHA loans.
The interpretation by HUD, conveyed in a letter to Congress by Assistant Secretary Len Wolfson, appeared to contradict the agency's earlier comments about borrowers in the Deferred Action for Childhood Arrivals program.
Fifty-nine percent of Americans between the ages of 18 and 23 want to buy a house in the next five years, and more than half have already started saving for one, according to a survey by Bank of America.
The bank was fined $25 million for what the Office of the Comptroller of the Currency said was an inability to provide the discounts to all who were eligible.
The Federal Housing Administration is moving forward with a long-delayed plan to reduce the term of the home warranty required for high loan-to-value mortgages on new houses.
