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 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.)
A coalition of conservative organizations, led by the Heritage Foundation, has published a 920-page handbook called Project 2025, laying out the policy agenda for the next conservative administration.
Originations of government-insured mortgages increased by 11.0% in the first quarter of 2024 compared with the previous quarter. Conventional-conforming and nonconforming products lost share during the quarter. (Includes two data tables.)
The flow of refinance loans into the Ginnie MBS program dropped 9.2% in April. Still, year-to-date refi volume in the government-insured market was up a solid 54.4%. (Includes two data tables.)
A lender’s reconsideration of valuation process must include disclosure to the borrower at the point of a loan application and again when the borrower receives the appraisal.