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.

Among a large group of FHA/VA lenders, the broker channel accounted for 24.8% of government-insured originations in the third quarter. UWM and PennyMac sharply increased their broker volume in the quarter. (Includes data table.)

HUD said its current rule adversely impacts the availability of affordable homes for sale.

Mortgage lenders are pushing back on enforcement actions against servicer convenience fees for optional expedited payment services.

The proposal is meant to address liquidity challenges servicers face from tax and insurance advances in an elevated interest rate environment.