Referring back to a story MHProNews.com published March 17, 2014 regarding the new housing reform finance bill being discussed in the Senate Banking Committee, Credit Suisse AG says it will only cover losses after private capital bears the first ten percent, which will lead to more expensive mortgages. The proposal would also throw out the mandate to make a percentage of mortgages available to lower and middle-income homebuyers. Owners of securities in Fannie Mae and Freddie Mac would be able to trade them for new Federal Mortgage Insurance Company (FMIC) securities.

In another story, Ron Chrisman of mortgagedailynews.com, says Impac Mortgage is taking on MH loans: “Impac has added manufactured housing as an eligible property type under its FHA Streamline refinance program and has added guidance on seasoning requiring that, on the date of the case number assignment, the borrower must have made at least six payments, at least six full months must have passed since the first payment due date, and at least 210 days must have passed from the closing date. The maximum CLTV for FHA Streamline refis has also been changed to 125% of the original appraisal value.”

(Image credit: housingwire.com)