FHA to discontinue paper claims option; VA updates loan fees; Mortgage Bankers Association seeks Congressional action on multifamily housing; FHA corrects mortgagee letter on expanded loss-mitigation options; USDA maintains appraisal fee; HUD updates civil monetary penalties.

Ginnie Mae has reduced the required minimum size for MBS pools with home-equity conversion mortgages to $250,000 from $1 million.

The change affects new loans endorsed on or after March 20. The last MIP cut occurred in early 2015, when FHA trimmed premiums by 50 bps for 30-year fixed-rate mortgages.

The mortgage and housing industry for some time have been anticipating an MIP cut...

Applications stumbled in early February; rate locks increased in January; consulting firm opposes ICE’s planned acquisition of Black Knight; FHA ditches paper filing; Black Knight adds eNote and eVault tech.

FHA and VA are collaborating with Ginnie Mae on new low- to moderate-income disclosures for MBS pools to help investors meet environmental, social and governance mandates.

Mortgage servicers and housing officials should be prepared for an uptick in delinquencies following the toxic train derailment in East Palestine, OH.

Apollo isn’t buying Select Portfolio Servicing from Credit Suisse; FHA seeking suggestions for changes to rehabilitation program; Hsieh’s fishing dream; mortgage fraudster sentenced to 10 years in prison.

Issuance of Ginnie Mae MBS declined again in January, though at a slower pace than the drop-off seen in the final months of 2022. PennyMac was the top issuer during the month. (Includes two data charts.)

FHA will expand its loss-mitigation options to borrowers at risk of default even if COVID-19 wasn’t the cause of their economic challenges.