The volume of government purchase loans securitized into Ginnie Mae mortgage-backed securities grew in May for the third month in a row. Refi volume declined somewhat compared with April.
FHA is reviewing a proposal from the National Reverse Mortgage Lenders Association to cut the upfront mortgage insurance premium on home equity conversion mortgages.
FHA Commissioner Julia Gordon spoke recently with Wendy Penny, associate vice president of affordable housing initiatives at the Mortgage Bankers Association.
A new study has found no discernible effect in FHA loan underwriting following the wave of DOJ lawsuits post 2008 to crack down on reckless mortgage lending by banks.
VA issues circular on upcoming changes to its full file loan review submission process; FHA launches case binder module updates to its Catalyst system; FHA releases pre-recorded webinar for first-time homebuyers.
Speaking at the National Reverse Mortgage Lenders Association conference this week, Urban Institute’s Laurie Goodman called for “more permanent” steps to ease liquidity issues in the HECM market.
The Center for Responsible Lending, the Housing Policy Council and the National Consumer Law Center are asking FHA to allow borrowers to roll closing costs into the balance of their streamline refinance loans.
FHA’s share of the government-insured market declined to 60.8% in the first quarter of 2024, while VA production improved from the fourth quarter led by IRRRLs. (Includes three data tables.)