Details were published in Mortgagee Letter 2023-08.

Issuance of Ginnie Mae MBS declined for the eighth straight quarter during the first three months of 2023. The deterioration was relatively uniform between FHA and VA volume. (Includes four data charts.)

Given the current market liquidity conditions, FHA proposed expediting the processing of claims tied to its home-equity conversion mortgage program.

The HUD OIG will soon report on an audit examining Ginnie Mae’s process for managing troubled issuers, according to Inspector General Rae Oliver Davis.

There are separate toolkits for conventional loans and those backed by the government housing agencies.

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.

FHA appoints Edelman as deputy assistant secretary of single-family housing; VA issues updated guidance for noncompliant IRRRLs.

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.

FHA is taking feedback through April 11 on a new draft mortgagee letter proposing policy changes to its home equity conversion mortgage program.

McCargo also suggested the FHLBs could help bring more stability to the Ginnie system...