VA Activity

Browse articles from all of our Newsletters related to VA Activity.

June 14, 2013 - Inside FHA Lending

Bill Would Allow HECM Changes by Lender Letter

The Department of Housing and Urban Development and the reverse mortgage lending industry lauded the U.S. House of Representatives this week for passing bipartisan legislation that would allow the agency to make immediate, necessary changes to the Home Equity Conversion Mortgage Program while working simultaneously on implementing regulations. H.R. 2167, the Reverse Mortgage Stabilization Act of 2012, passed by voice vote after it was added to the House “suspension” calendar, which limits debate on noncontroversial bills for quick passage. Co-sponsored by Reps. Denny Heck, D-WA, and Mike Fitzpatrick, R-PA, the bill responds ...


June 14, 2013 - Inside FHA Lending

VA Plans to Raise Residual Income Requirement

The Department of Veterans Affairs is planning to raise the residual income limit requirement for home loan applicants by 15 percent – a move that could shut out many veterans who have limited income. The proposal is one of several measures under consideration for the VA’s Home Loan Program, said Carol Barnard, a loan production officer in the VA Regional Loan Center in Denver, during a recent webinar hosted by the Collingwood Group, a Washington-based advisory firm. Barnard is also a senior consultant with Collingwood. This change means that, for a family of four in the VA’s Northeast region, the required income residual could jump to ... [1 chart]


May 17, 2013 - Inside FHA Lending

FHA Delinquencies Down, Foreclosure Starts Up

FHA loans saw an improvement in delinquencies even as the mortgage industry reported an increase in the overall delinquency rate for single-family mortgages at the end of the first quarter of 2013, according to the Mortgage Bankers Association’s latest national delinquency survey. Among loan types, the FHA saw the largest improvement on a seasonally adjusted basis as its delinquency rate dropped to 10.97 percent in the first quarter, down 20 basis points from the previous quarter. This was good news for an agency that has been battling to reduce losses and stabilize its Mutual Mortgage Insurance Fund. However, the refreshing change was ...


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