Facing criticisms that borrowers would intentionally default to qualify for VA’s upcoming loan-modification program, the agency noted that nearly 90% of its home loan portfolio is at a 2.5% to 3% coupon.

Servicers can begin offering the new option May 1, but must make it available by Jan. 1, 2025.

VA’s proposed VA Servicing Purchase loss-mitigation program faced intense criticism this week from Rep. Derrick Van Orden, R-WI.

Department of Housing and Urban Development Chief of Staff Julienne Joseph this week provided an update on anticipated policy changes to the FHA single-family home loan program.

The average credit score for an FHA loan delivered into Ginnie Mae mortgage-backed securities increased in 2023, while average scores for VA loans didn’t budge. (Includes two data tables.)

The VA last week issued a circular extending COVID-19-related loss-mitigation assistance through May 31.

VA borrowers could stand a better chance when bidding for a home if the agency’s minimum property requirements are aligned with GSE standards, according to mortgage lenders.

The Supreme Court in a unanimous decision last week ruled that federal home loan agencies are not immune from civil monetary penalties for violations of the Fair Credit Reporting Act.

Loans to communities ranked with a high social vulnerability index made up roughly 22% of Rural Housing Service-guaranteed single-family home loans in the fourth quarter of 2023. (Includes data table.)

Rep. Member Maxine Waters, D-CA, urged Congress to pass the housing package that had been part of an earlier session’s Build Back Better bill; MISMO launches working group for federal housing agency dataset to support servicers; VA updates COVID-19-era loss-mitigation support; VA extends rescission date for assisted appraisal processing program; USDA raises appraisal fee for direct loans; USDA announces limited waiver for SFHGL servicers.