Four trade groups, including the Mortgage Bankers Association, are asking the White House’s National Economic Council to support a reduction in FHA mortgage insurance premiums.
FHA pauses integration of Catalyst Electronic Appraisal Delivery module; VA sends proposed rule to OMB; House committee introduces bill to strengthen the Community Reinvestment Act; VA Financial Management System will be unavailable Oct. 1 to Oct. 5; Ginnie Mae to hold modernization outreach call; MBA survey shows uptick in government loan share of weekly mortgage applications.
Lenders funded $17.71 billion of home-equity conversion mortgages during the first six months of the year as housing wealth continues to grow among homeowners 62 and older. (Includes three data charts.)
Following a boom in buyout activity of FHA and VA loans from Ginnie Mae pools in the first 18 months of the COVID-19 pandemic, loan removals continue to decline. (Includes data chart.)
The trade group is backing a three-step loss-mitigation waterfall suggested by a former Ginnie president that would not require an actual buyout of the loan or an increase in the note rate.
Documentation on student loan debt forgiveness will be a key factor in the underwriting process for homebuyers benefiting from the recently announced debt relief program.
RHS finalizes new rule for single-family loan program; HUD to require unique entity identifier for FHA lenders; USDA to update guidance on default status codes; MISMO announces enhancement for industry loan application dataset; USDA introduces four new forms; HUD awards housing counseling grants.