More than 450 mortgage loans, many of them insured by FHA, were approved based on fabricated documents tied to the guilty plea.

HUD alleged PHH charged convenience fees in violation of FHA requirements.

VA refis in Ginnie MBS issuance more than doubled on a quarterly basis in the fourth quarter and FHA refi volume was up almost 50%. On an annual basis, Ginnie MBS issuance increased by nearly 20% in 2024.

To this point, FHA hadn’t published its method of identifying servicing defects before, except in draft form.

Trade groups and consumer advocacy groups sent comments to FHA on a draft proposal from late November introducing a permanent loss-mitigation waterfall.

Scott Turner’s nomination hearing scheduled for next week; FHA updates draft mortgagee letter on partial claim document recording and payoff statements; Fannie Mae updates Desktop Underwriter in support of FHA and VA loan limit changes; FHA adopts Uniform Residential Loan Application for Title I loan programs; the Mortgage Bankers Association provides feedback on proposed updates to Title I manufactured housing program; FHA outlines changes on multifamily loan underwriting thresholds.

The agency had never published its method of identifying servicing defects before.

Gift funds from family accounted for more than half of DPA used by FHA borrowers in FY 2024.

Nearly 40% of FHA purchase mortgages originated in fiscal year 2024 included downpayment assistance.

The MBA supports the new FHA proposal but wants more information on whether lenders need to keep additional reserves on hand.