Former Ginnie Mae President Alanna McCargo joins FHLB San Francisco; industry and consumer groups support VA supplemental rulemaking on IRRRL program; VA drafting rule on ARMs.
The guidelines lay out the process lenders must develop for borrowers to request an appraisal reassessment when they believe a valuation was inaccurate or biased.
FHFA and HUD have teamed up to initiate a formal request for reconsideration of value for borrowers and sellers who believe their appraised value is undocumented or biased.
Freedom Mortgage more than doubled its production from the fourth quarter to the first. Mike Patterson, COO of the nonbank, said the growth was driven by attractive loan characteristics.
The amount of servicing outstanding in Ginnie MBS increased by 1.6% during the first quarter. Lakeview/Bayview Loan Servicing increased its market share thanks to large purchases of MSRs.
Nonbank issuers in the Ginnie Mae program should have better access to funding from commercial banks to help bolster their liquidity, according to a proposal from the Housing Policy Council.
The Department of Housing and Urban Development’s Adrianne Todman last week made her first appearance before the Senate Banking and Housing Committee as acting secretary.
FHA and VA lenders and servicers should prepare for more regulation related to climate risk and housing sustainability, speakers at an AmeriCatalyst conference last week suggested.