Borrowers’ perceptions of their home valuations are influenced by localized stressors, according to economists in HUD’s Office of Policy Development and Research.
FHA to host stakeholder meeting on new reconsideration of value requirements; former Ginnie Mae executive joins the Housing Policy Center; and more news in brief.
Production of FHA reverse mortgages declined 11.4% from the fourth quarter to the first. Industry watchers are calling for reforms to increase program uptake. (Includes three data tables.)
FHA Commissioner Julia Gordon said from a budgetary modeling standpoint, it would be expensive to cancel insurance premiums while FHA is still insuring the loan.
Sutherland and NOVAD formed a servicing operation in 2014 that won a contract to service reverse mortgages for HUD. The companies remained reverse-mortgage servicers until near the end of 2022.
Hometown Lenders was ordered to cease and desist from accepting new FHA lending business related to residents or properties located in Washington State for violations of the state’s Consumer Loan Act.
FHA seeks comments on proposed updates to its defect taxonomy; FHA implements final rule which distinguishes between governmental institutions and government-sponsored enterprises.
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.