Prepayments on VA loans in Ginnie MBS jumped in February and will likely remain elevated in March. It’s a recurrence of an ongoing problem for Ginnie and VA: streamlined refinance business.

Ginnie Mae last week announced revisions to its issuer eligibility requirements to participate in its manufactured housing MBS program.

The CFPB and the FTC have filed an amicus brief supporting borrowers in a case against Ocwen Loan Servicing, while lender trade groups urged the Supreme Court to intervene in a federal preemption case.

The six-bill appropriations package, which includes FY2024 funding for the departments of Housing and Urban Development and Veterans Affairs, now heads to the Senate.

As long as struggling mortgage companies show that they’re on the path to profitability, warehouse lenders say they have their back.

Banner Bank denied the allegations, but said it agreed to a class settlement to fully focus on its core business.

The approaching expiration of Treasury’s warrants on Fannie and Freddie stock and the possibility of a second Trump administration have revived debate on the potential end of the conservatorship of the GSEs.

The Mortgage Bankers Association has opposed the extension of the risk-sharing program, which provides capital to housing finance agencies that offer FHA loans for affordable multifamily rental properties.

With the new FHA payment supplement loss-mitigation option, servicers will be able to temporarily lower a delinquent borrower’s monthly payment by up to 25%, and up to 30% of the loan’s balance can be directed into a junior lien as a partial claim.

VA processed 2,244 loan assumptions in 2023, compared with just 308 in the previous year. Under a VA loan assumption, a buyer takes over the seller’s mortgage at its existing terms.