Ginnie supports FHA multifamily risk-share initiative; rulemaking on private flood insurance for FHA borrowers moving forward; webinar on student loan debts and mortgage underwriting; the Community Home Lenders Association and the Community Mortgage Lenders of America merge; FHA updates multifamily guidance; VA extends recission for COVID-19 partial claim payment program; and more.
Ginnie Mae said it supports HUD’s efforts seeking legislation that would provide a permanent source of capital for housing finance agencies fostering affordable multifamily housing.
Low-balance borrowers seeking to refinance pay proportionally higher closing costs and receive a smaller reduction in interest rates, according to findings published by the Federal Reserve.
Lenders want FHA to increase the limit on fees they can charge for processing an assumable mortgage, a product expected to gain popularity in the coming months.
An increase in purchase mortgages wasn’t enough to offset ongoing declines in refi volume, pushing issuance of Ginnie MBS down 2.9% in July compared with June. (Includes two data charts.)
Changes in the housing market and economic outlook could impact how FHA officials consider whether, when and how to make changes to FHA’s mortgage insurance premium.
The Senate last week approved $70 billion in budgetary resources for the Department of Housing and Urban Development as part of its fiscal 2023 appropriations package.
HUD wants to increase its outreach to community development financial institutions through more frequent training webinars tailored to teaching them how to join the FHA program.