Wood Markets News


FHA Proposes 40-Year Mortgage Loan Modification Option

The U.S. Department of Housing and Urban Development (HUD) is asking for mortgage industry input on a proposed rule change that it offered late last week, which would change repayment provisions for FHA borrowers. The change would allow lenders to recast a borrower’s total unpaid loan for an additional 120 months.

Canadian Building Permits Increase 21% in February

On Monday (4-4-22), Statistics Canada (StatsCan) reported that the total value of building permits climbed 21.0% in February, with British Columbia leading the way with a 130.2% increase. On a constant dollar basis (2012=100), the total value of building permits increased 22.1% in February.