Late last year, Ginnie seized the mortgage servicing assets of Reverse Mortgage Funding after the company filed for bankruptcy, citing liquidity issues.
The VA loss-mitigation service program will more likely be launched next year, Michelle Corridon, deputy director of policy at VA, said during a recent MBA conference.
Panelists at a Community Home Lenders of America roundtable discussed the challenges in targeting low- to moderate-income borrowers, including first-time and minority homebuyers.
State housing finance agencies want to be exempted from proposed FHA audit requirements for investing mortgagees, the National Council of State Housing Agencies said in a comment letter.
The updated guidance, which will go into effect Jan. 1, notes that housing counseling must be provided by a qualified, independent third party and not by anyone compensated by a mortgage originator or servicer.
FHA Catalyst claims module now enables bulk submissions of supplemental claims; USDA’s Rural Housing Service to release proposed rule updating eligibility requirements for non-citizens; Senate Banking Committee to hold hearing on flood insurance; HUD to hold meeting of its Housing Counseling Federal Advisory Committee.