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.

The government home loan programs have different eligibility requirements for Native American borrowers based on geography and income levels.

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.)

FHA has doubled the fees servicers are allowed to charge for processing an assumable mortgage to a maximum of $1,800.

FHA first-lien, single-family home loan applications were turned down more often than VA home loan applications, according to an analysis of HMDA data. (Includes data table.)