FHA lending is concentrated on borrowers with loan-to-value ratios greater than 95%, while private MI activity is focused on borrowers with LTV ratios between 85% and 95%, according to an analysis by Inside FHA/VA Lending of agency mortgage-backed securities disclosures.
A revised version of the Homes for Every Local Protector Educator and Responder Act was introduced in Congress last week. The bill would offer downpayment assistance through the FHA loan program for many teachers and first responders.
Under the modified policy, FHA decreased the minimum loan balance threshold at which a mortgagee can submit the assignment request for a home equity conversion mortgage.
The Department of Housing and Urban Development didn’t ensure lenders consistently followed temporary forbearance policy requirements or ensure that indemnification agreement data and related records were complete and accurate, according to the HUD Office of Inspector General.
There were roughly half a million fewer new listings in the first four months of this year than in the first four months of 2019, a year before the pandemic.
The volume of FHA loans securitized into Ginnie mortgage-backed securities grew 20.5% between March and April, to $18.39 billion. VA loan production sent to Ginnie increased at an even higher rate. (Includes two data charts.)