The bill would require communities that have experienced repeat flooding to administer disaster mitigation plans in order for residents to stay eligible for NFIP and for relief from FEMA.
Rithm continues to post strong earnings, but officials at the REIT are frustrated by how the market treats its stock. It also has a SPAC-in-waiting and a mortgage company it would like to spin off.
The recent tightening of FHA loss-mitigation options will likely lead to more early loan buyouts, which PennyMac CEO David Spector sees, at the very least, as a net neutral development for the business.
A week before the Department of Veterans Affairs closed the door on its Servicing Purchase program, it issued some guidance for uncertain servicers, but holes remained.
FHA has rescinded a pair of policies enacted in 2022 that were meant to give owner-occupants an upper hand in foreclosure sales over institutional investors.
The steep property insurance and tax bills driving the rise in FHA late rates are not likely to come down anytime soon, meaning delinquencies will likely stay up too.