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Companies covered under HMDA are required to submit a Loan Application Register (LAR) to the FFIEC via the CFPB which acts as the HMDA processor. The LAR must contain the data outlined in the Filing Instruction Guide (FIG) for the relevant collection year for all covered applications or loans. [8] [9] [10] [11]
The Community Reinvestment Act (CRA, P.L. 95-128, 91 Stat. 1147, title VIII of the Housing and Community Development Act of 1977, 12 U.S.C. § 2901 et seq.) is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.
FHA construction loans: For as little as 3.5 percent down, you can get a construction loan insured by the Federal Housing Administration (FHA). These come in the form of a construction-to ...
There are two types of FHA construction loans: an FHA construction-to-permanent loan and a FHA 203(k) loan. FHA construction loans can be rolled into an FHA permanent mortgage.
Multiple Advance, Closed End: This type of loan (typically a construction loan) advances incremental amounts up to a certain limit, based upon some criteria such as inspection and approval of a draw request. Any principal reductions received during the loan period are not available to be drawn on, but rather have paid down the loan balance.
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Depiction of New York World Building fire in New York City in 1882. Building codes in the United States are a collection of regulations and laws adopted by state and local jurisdictions that set “minimum requirements for how structural systems, plumbing, heating, ventilation, and air conditioning (), natural gas systems and other aspects of residential and commercial buildings should be ...
NAHB also works with federal agencies and state and local governments on regulations affecting the housing industry in mortgage finance, building codes, energy efficiency, and the environment. NAHB organizes one of the largest trade shows in North America, the International Builders' Show (IBS).