Beginning in 2024 cities and counties in California can adopt ordinances to let an accessory dwelling unit be sold or conveyed separately from the primary residence.

The Ginnie Mae mortgage servicing market saw a modest growth from the second to the third quarter. Overall, the performance of loans in Ginnie MBS deteriorated but the pace of serious delinquencies declined in both FHA and VA programs. (Includes four data tables.)

Officials from FHA, VA and USDA spoke about their plans to promote affordable homeownership at the Mortgage Bankers Association’s annual convention this week.

FHA Commissioner Julia Gordon this week returned to her hometown of Philadelphia to address attendees at the Mortgage Bankers Association’s annual convention.

Former Ginnie Mae President Ted Tozer wants the Biden administration to make a program supporting nonbank issuer liquidity a high priority.

FHA finalized a rule revising its rental income policies and property eligibility requirements for loans for properties with accessory dwelling units.

FHA Commissioner Julia Gordon cautioned attendees at the annual conference of the Mortgage Bankers Association not to expect a further cut to the mortgage insurance premium rate anytime soon.

Delinquencies on securitized mortgages increased in all parts of the agency market during the third quarter. The increase was concentrated in early-stage delinquencies. (Includes data chart.)

Production of Ginnie Mae single-family mortgage-backed securities saw a modest increase in the third quarter. PennyMac lost some market share in the FHA program. (Includes four data charts.)

Industry trade associations and consumer groups have expressed support for proposed rules on how servicers must engage with delinquent FHA borrowers.