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News Briefs

June 7, 2024
James Dohnert
A&D announces new pricing tiers for DSCR loans; REMN Wholesale announces June pricing special; Acra has record-breaking May; Champions hires new VP of underwriting.
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MIP, Homeowners Insurance Pose Challenges to HECM Program

June 7, 2024
Monica Hogan
FHA is reviewing a proposal from the National Reverse Mortgage Lenders Association to cut the upfront mortgage insurance premium on home equity conversion mortgages.
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VA Calls for Targeted Foreclosure Moratorium

June 7, 2024
Monica Hogan
The Department of Veterans Affairs said the temporary pause will help fill the gap until servicers fully implement the Veterans Affairs Servicing Purchase home-retention program.
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Gordon Highlights FHA Loss Mitigation, MIP Cut

June 7, 2024
Monica Hogan
FHA Commissioner Julia Gordon spoke recently with Wendy Penny, associate vice president of affordable housing initiatives at the Mortgage Bankers Association.
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Ginnie Updates on Plans for New HMBS Product

June 7, 2024
Monica Hogan
Ginnie Mae plans to release a term sheet in June on a new security backed by FHA home equity conversion mortgages.
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Bank Exits Didn’t Improve FHA Underwriting Quality

June 7, 2024
Monica Hogan
A new study has found no discernible effect in FHA loan underwriting following the wave of DOJ lawsuits post 2008 to crack down on reckless mortgage lending by banks.
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Officials Highlight Variations in Government Home Loan Programs

June 7, 2024
Monica Hogan
The government home loan programs have different eligibility requirements for Native American borrowers based on geography and income levels.
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Around the Industry

June 7, 2024
Monica Hogan
VA issues circular on upcoming changes to its full file loan review submission process; FHA launches case binder module updates to its Catalyst system; FHA releases pre-recorded webinar for first-time homebuyers.
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FOMC Members Debate Pace of Portfolio Runoff

June 6, 2024
Dennis Hollier
Did the Fed jump the gun by deciding to slow the pace of balance sheet reduction without waiting until it approached the point of ample reserves?
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For Sale Once Again: MBS Servicer SPS

June 6, 2024
Paul Muolo
Select Portfolio Servicing is one of the largest non-agency MBS servicers in the nation — and it’s on the auction block once again.
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