A new paper by the Joint Center for Housing Studies at Harvard University recommended increasing the amount of downpayment assistance to Black and Hispanic first-time homebuyers using FHA loans.
Industry stakeholders have welcomed the FHFA’s plan to make payment deferrals a regular part of loss mitigation. MBA suggested more standardization of workout options is in order.
The reverse-mortgage market was virtually glowing last year, with production increasing 24.6% to a whopping $29.65 billion. But much of that activity was front-loaded in the first six months. (Includes three data charts.)
Originations of FHA and VA loans through the retail channel dropped a hefty 52.5% in 2022, allowing the correspondent channel to become the dominant source of government-insured lending. (Includes data chart.)
Although the share of Ginnie Mae loans in forbearance decreased to 1.28% in February from 1.37% the prior month, there are still concerns about FHA/VA loan performance.
The Center for Responsible Lending and the American Enterprise Institute want FHA and VA to implement measures to discourage harmful cash-out refinancings.