Correspondent Products; FHA, VA, Ginnie, and Lender News

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Posted To: Pipeline Press

The Federal Housing Administration (FHA) announced a a package of incentives to encourage multi-family property owners to invest in thousands of neighborhoods located in Opportunity Zones across the nation. Think reduced application fees paid by property owners applying for certain multifamily mortgage insurance programs for development or rehabbing apartment units located, or proposed to be located, in Opportunity Zones . And designated teams of senior underwriters to review these applications to ensure the most attentive and timely processing. Opportunity Zones are intended to stimulate economic development and job creation in distressed low-income communities by incentivizing long-term capital investment. There is capital gains tax relief to those who invest in these targeted distressed...(read more)

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Source: http://www.mortgagen...

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