HUD has increased the total rehabilitation costs that can be financed under FHA’s limited 203(k) program and extended the allowable time for rehab and repair work to be completed.

The proposed rule seeks to create a permanent program governing the sale of seriously delinquent FHA-insured single-family mortgages and foreclosed home equity conversion mortgages.

HUD’s spring regulatory agenda includes about a dozen FHA-related items in the proposed or final rule planning stage.

FHA plans to retroactively adjust the calculation of debenture interest rates for claims filed on HECMs due or payable since Sept. 19, 2017.

Senate passes the VA Home Loan Awareness Act; USDA updates income limits for home loan programs; the Department of Housing and Urban Development and the Federal Emergency Management Agency announce partnership to address disaster housing recovery challenges.

The slowdown is part of a typical trend seen at federal regulators prior to a presidential election.

Primary MI lost market share in the agency market in the second quarter in both purchase mortgages and refis. Among loans in agency MBS with some form of MI, three states combined to account for slightly more than 30% of total volume in the second quarter. (Includes two data tables.)

Borrowers who obtained mortgages in recent years are prime targets for refis as interest rates decline.

Researchers find that the climate-related increase in flood damage will boost the cost of subsidizing federal mortgage programs by 44% over the next 30 years. That doesn’t include the costs to homeowners, lenders, insurers or MBS investors.

While forbearance options helped many homeowners avoid foreclosure during the pandemic, alignment between programs could help.