The success of the Section 203(k) program depends on reforms that would make it more accessible for borrowers and operationally feasible for lenders, according to the Mortgage Bankers Association.

Correspondent sales of government-insured loans declined by 28.6% on an annual basis in 2022, though Veterans United boosted its sales by 13.8%. (Includes data chart.)

The Community Home Lenders of America asked leaders of the congressional appropriations committees to fully fund FHA’s and Ginnie Mae’s fiscal 2024 budget requests for salaries and administrative expenses.

The Mortgage Bankers Association wants FHA to extend to all lenders certain documentation waivers recently made available to Reverse Mortgage Funding transferees.

The Community Home Lenders of America wrote to the leaders of House and Senate housing appropriations committees.

Home sellers have become more receptive to FHA offers now that the market has started to cool, according to Black Knight Vice President Andy Walden.

The White House has requested $73.3 billion for the Department of Housing and Urban Development in fiscal 2024.

FHA is taking feedback through April 27 on a draft mortgagee letter proposing the use of rental income from accessory dwelling units to calculate borrowers’ eligibility for a home loan.

The industry largely asked FHA to align the policies of the Section 203(k) rehabilitation loan program with those of the government-sponsored enterprises.

Some federal agencies extend forbearance request deadlines; Guaranteed Rate ramps up reverse mortgage lending; Brewer, ME-based woman pleads guilty in VA home loan false statements case; Rural Housing Service sets timeline for 2023 housing preservation grant program.