Demand for reverse mortgages has grown in recent years, with more expansion expected in 2022 for both FHA home-equity conversion mortgages and proprietary reverse loans.
FHA has introduced a new self-service portal, dubbed the SMART Integrated Portal, to make it easier for borrowers to get payoff information on their loans.
In a statement of interest, the Department of Justice said the court should hold that the Fair Housing Act applies to discriminatory appraisal practices.
The number of loans 30-59 days delinquent in agency MBS increased during the second half of 2021. Late payments increased on FHA mortgages along with GSE loans. (Includes data chart.)
Ginnie servicing outstanding increased by 0.2% in 2021, led by VA mortgages. Loan performance continued to improve during the fourth quarter. (Includes four data charts.)
Issuance of Ginnie Mae mortgage-backed securities hit a record despite a slowdown in refi volume. The VA remained the top source of Ginnie activity for the second consecutive year. (Includes four data charts.)
Officials at Velocity said the acquisition of an FHA multifamily lender will help to expand the company’s product offerings and serve as a hedge for its traditional focus on business-purpose lending.
FHA should offer borrowers a flexible loan-modification option that would use a portion of a servicer’s partial claim amount to reduce a borrower’s monthly payment, dollar for dollar, according to analysts at UI.
Nevertheless, rumors are circulating that the Biden administration is preparing to test the legal waters by having the FHA and VA extend their REO eviction moratoriums to the end of the year. These were also scheduled to end on Saturday. If that were to happen, most observers believe FHFA would follow suit.