HOME Live! - July Recap

Jul 21
2 min read

Updated: 3 days ago

MANY LANGUAGES. ONE MOVEMENT.

STAY INFORMED.

STAY AHEAD.

HOME LIVE RECAP • SESSION 01

This recap is built to work on its own. No replay needed. Print it. Keep it on your desk. Use it this month.

DO THESE 3 THINGS THIS WEEK

Submit your public comment to DHS. Deadline: August 4.

A proposed rule would end automatic EAD renewal extensions. That means borrowers with valid work authorization could lose income continuity mid-transaction. Lenders react to that uncertainty with overlays. Your comment takes 5 minutes:

Direct link to DHS EAD renewal rule at regulations.gov
Click "Comment"
Say who you are, who you serve, and how this rule affects real borrowers

Regulations.gov

Save the date: HOME Live 02. Thursday, August 13. 9am PST

Plus a special announcement: free mortgage coaching for the HOME Network, led by one of the industry's top producers, Bryce Gonser, Idaho's #1 LO.

RSVP for HOME Live!

Activeate GuidelineBuddy. Free with your HOME membership.

Real-time investor guidelines, pricing engine integration, 200+ languages.

Join HOME

B Y T H E N U M B E R S

Hispanic families added 440,000+ homeowners last year. More than any other demographic.

And the homeownership rate still declined. Demand is not the problem. Access is.

Jay Rodriguez, VP of Government Affairs

POLICY: What's Changing in Washington

Getting easier:

CFPB is looking at eliminating the 3-day right of rescission on primary home refinances
Reverse mortgage disclosures may finally get modernized out of 2008-era paperwork

Getting harder:

New executive-order scrutiny around immigration status and ability to repay. No guideline changes yet. But the uncertainty is causing lenders to add overlays and pull back, especially around DACA recipients and EAD/visa renewals.
FHA has backed off non-permanent resident lending. Nothing has changed at FHFA, Fannie, or Freddie.

Also on HOME's advocacy radar: pushing FHA to modernize condo approvals and allow closing costs to roll into FHA streamlines, the way VA streamlines already do.

LENDER CHEAT SHEET

First National Bank of America: ITIN and visa borrowers, bank statement income, land loans.

Lendz Financial: Limited condo review at 85% LTV primary. SB326 workaround.

Symmetry Lending: First or second lien HELOC. No condo review. No prepay penalty.

Pro tip: Know 2 to 3 investors deeply. Lean on GuidelineBuddy for the rest.

Mindset Check

When a lender says no, that's not rejection. It's recalibration.

— Isis Bravo, COO

Danny Velazquez, HOME President

Real Estate Market Playbook

The Hispanic first-time homebuyer is the driving force in many states right now. Manual underwriting is your competitive edge to solutions such as modern DSCR banks and ....

Homeowners who bought in 2018 and 2019 are sitting on serious equity. They need you to guide them on leveraging their equity.