According to the former FHFA chief, given the state of the mortgage and equity markets, Fannie Mae won’t survive another round of home price depreciation.
FHA premium cuts are being closely analyzed by HUD while FHFA and Treasury have had no talks about reforming the GSEs through the PSPAs. MBA also pressed FHFA on LLPA changes for conforming jumbos and mortgages for second homes.
Julia Gordon, who finally received Senate confirmation this week after being nominated in June of last year, will face increasing pressure to cut mortgage insurance premiums.
The government housing agencies have updated their frequently-asked-questions pages to assist servicers handling borrowers whose applications for relief under the Homeowner Assistance Fund are pending.
The slowing pace of delinquencies helped mitigate the impact of a reduction in new private mortgage insurance policies written as mortgage originations slowed.
A HUD policy update has “unintentionally eliminated” reimbursements to servicers for property preservation and protection expenses that occur before a foreclosure process begins.
FHA restores access to Loan Review System; FHA extends post-foreclosure sales timeframe; HUD housing counseling advisory committee to meet; HUD to host webinar on HECM counseling program; Ginnie Mae to host listening session; Wells Fargo announces military spouse hiring program; USDA’s mandatory use of Guaranteed Underwriting System and Lender Loan Closing System takes effect.
Federal agencies want servicers of government-backed mortgages to pause foreclosure proceedings when the homeowner’s application for relief under the Homeowner Assistance Fund is pending.