The Department of Housing and Urban Development’s Mortgagee Review Board took disciplinary actions against 97 FHA-approved lenders during fiscal year 2021.

Senate majority leader files cloture on Gordon’s confirmation for FHA chief; HUD OIG announces two Ginnie audits; HUD to host webinar for reverse mortgage counselors; FHA extends temporary shutdown of loan review system; HUD updates civil monetary penalties; FHA closes multifamily housing loan; USDA updates lender requirements for OneRD guaranteed loan initiative; USDA opens SF loan program to non-citizens.

The Biden administration’s move to reduce the impact of medical debt from consumer credit reporting will make it easier for some homebuyers to qualify for government-backed mortgages.

The new option is for borrowers who cannot achieve at least a 25% reduction in the principal and interest portion of their payment through a 30-year loan modification with a partial claim.

Earlier this month, FHA issued proposed rule-making for a permanent 40-year loan option and is taking comments through May 31.

Ginnie Mae issuers securitized some $155.11 billion in mortgage-backed securities during the first quarter of 2022, a 17.5% decline on a sequential basis. (Includes four data charts.)

Julia Gordon is on track to be confirmed after the Senate last week voted 51-50, with VP Harris casting the tiebreaker, to enable consideration of her nomination as FHA commissioner on the Senate floor.

Amid growing calls among industry participants for a reduction in FHA mortgage insurance premiums, some experts believe FHA’s wait-and-see approach is the right way to go.

FHA this week temporarily shut down its Loan Review System after users reported intermittent document errors over the past several weeks.

The plan highlights FHA activities aimed at maximizing homeownership for first-time homebuyers, among other actions.