The Community Home Lenders of America (CHLA) submitted a letter to the Federal Housing Finance Agency (FHFA) expressing its support for the use of attorney opinion letters (AOLs) on Wednesday.
In the letter addressed to FHFA Director Sandra Thompson, the CHLA says that it supports the use of AOLs in lieu of title insurance, “in conjunction with Enterprise mortgage loans, subject to reasonable standards.”
The letter cited mortgage rates and homeownership affordability challenges as reasons why the CHLA was asking Thompson and the FHFA to further explore AOLs.
“It’s a difficult environment details ⇒
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