The Mortgage Bankers Association and the Housing Policy Council have called for specific changes to the proposed updates to FHA’s defect taxonomy for servicing loan reviews.

The changes are effective Sept. 28 and are necessary to improve the long-term stability of the HECM program, FHA said.

The court said a non-signatory to an agreement, in this case Ginnie Mae, cannot lay claim to the benefit of a forum selection clause.

A new Urban Institute paper called on policymakers to build on the Financial Stability Oversight Council’s recommendations to address liquidity vulnerabilities among nonbank Ginnie Mae issuers.

The Consumer Federation of America said buyers using FHA loans often face stigma when buying a home and cannot use many competitive strategies that are common to conventional and cash buyers.

New FHA home equity conversion mortgage endorsements increased 10.8% from the first quarter to the second. Year-to-date, though, volume was down from the first six months of 2023. (Includes three data tables.)

Some questioned whether the proposed $25,000 downpayment assistance to first-time homebuyers would be enough in some housing markets.

The updates to FHA Connection will support implementation of revisions to the 203(k) rehabilitation mortgage insurance program.

The Consumer Federation of America has suggested policy changes to help FHA borrowers better compete in the market.

FHA has outlined interim procedures for nonjudicial foreclosures with liens held by the secretary of the Department of Housing and Urban Development.