The Mortgage Bankers Association and the National Mortgage Servicing Association want FHA to make additional revisions to rules for its planned partial payment supplement partial claim loss-mitigation program.
Industry participants support FHA’s plans to update policy on acceptable monetary investment funding sources and interested-party contributions for its home equity conversion mortgage for purchase program.
VA issues circular on foreclosure moratorium; Ginnie is looking for new senior vice president for the Office of Enterprise Data and Technology Solutions.
The broker share of the government-insured market declined to 20.4% in the third quarter, down from 21.2% in the second quarter. (Includes data table.)
FHA lacks sufficient safeguards to monitor its lenders and servicers and to prevent ineligible loans and claims in its mortgage insurance program, according to the HUD’s Office of Inspector General.
The revisions would increase the maximum allowable rehabilitation costs for a limited loan, update the rehab period for both standard and limited loans, and allow higher fees for program consultants.
An appeals court’s decision in Show Me State Premium Homes v. McDonnell has introduced uncertainty regarding the insurability of title following a nonjudicial foreclosure tied to an FHA-insured property.