FHA Announces Revised Method for Calculating Initial MIP for HECM Refis. FHA has modified the formula for calculating the initial mortgage insurance premium for Home Equity Conversion Mortgage refinances with case numbers assigned on or after Sept. 19, 2017. The formula was modified on Nov. 14, 2017. The change conforms to the final rule FHA implemented last year to strengthen the HECM program. The revised formula has been posted on FHA’s HECM page on hud.gov, FHA Connection Release Notes, dated Dec. 28, 2017. The FHAC Release Notes outline the changes and processing instructions for lenders to calculate the initial MIP for HECM refis. HUD Releases Guide to Help Borrowers and Disaster Victims Avoid Foreclosure. The Department of Housing and Urban Development has released the Homeowners Guide to Success to help struggling homeowners and ...

Purchase-money mortgages are the bread and butter in primary mortgage-insurance activity, but refinance loans also played a role in the continuing climb in private MI market share during the fourth quarter of 2017, according to a new Inside Mortgage Finance analysis.

Judge Timothy Kelly of the U.S. District Court for the District of Columbia circuit ruled late Wednesday, as expected, to deny CFPB Deputy Director Leandra English’s personal legal bid soliciting a preliminary injunction to unseat Acting Director Mick Mulvaney and install her as the acting director.

Mortgage bankers saw a small decline in profitability during the third quarter of 2017 despite a favorable turn in servicing and a bump up in mortgage production, according to the Mortgage Bankers Association’s quarterly performance report.

Proposed changes to Fannie Mae and Freddie Mac as it relates to community-based banking institutions could put borrowers in rural communities at a disadvantage, according to a new report by the Center for Responsible Lending.

Ginnie Mae and the Department of Veterans Affairs have announced additional measures to curb serial refinancing of VA loans. Testifying before a House Veterans Affairs subcommittee this week, officials from both agencies said the latest measures will complement guidelines Ginnie issued last year to deal with the loan churning problem.

It’s possible that mortgage lenders and servicers will see the CFPB during the tenure of Acting Director Mick Mulvaney use the five-year “look back” the bureau is required to perform to make significant changes to a pair of major rulemakings: the Truth in Lending Act/Real Estate Settlement Procedures Act integrated disclosure rule (TRID) and the ability-to-repay rule.

Mortgage rates are back up for the week ending Jan. 11, 2018, following Treasury yields, according to the latest results of the Freddie Mac Primary Mortgage Market Survey, released Thursday morning.

Purchase-money mortgages are the bread and butter in primary mortgage-insurance activity, but refinance loans also played a role in the continuing climb in private MI market share during the fourth quarter of 2017, according to a new Inside Mortgage Finance analysis.

Depository institutions had gradually expanded their footprint among the top 100 mortgage lenders over the past year or so, but nonbanks stepped on the gas during the third quarter, according to a new analysis and ranking by Inside Mortgage Finance.