A new proposal from FHA would expand the list of funding sources borrowers could use to meet their monetary investment requirements under the HECM for purchase program.

FHA wants to streamline policies allowing mortgage servicers to implement alternatives to foreclosure and update its incentive payments for the successful completion of a loss-mitigation option.

The U.S. Department of Agriculture plans to expand the options borrowers would have in using Rural Housing Service home loan programs for the purchase or renovation of manufactured housing.

White House backs conversion of commercial properties to residential housing; Community Home Lenders of America supports FHA move streamlining procedures following a loan case cancellation; HUD announces notice of sale of reverse mortgage notes; FHA extends disaster-related foreclosure moratorium in Maui; FHA manufactured housing appraisal requirements.

An increase in net expenses in the third quarter cut profits at Fannie Mae and Freddie Mac despite an uptick in revenue for the quarter. (Includes data table.)

Redwood Trust has increased its partnerships with banks as it expands its jumbo mortgage acquisitions in the third quarter.

The new ABS, comprised of prime auto loans, is a portion of a security Ally privately issued in March. Ratings firms said the deal had a weaker pool composition than previous Ally securitizations.

Harvest Small Business Finance is set to issue an ABS tied to the unguaranteed portion of Small Business Administration loans.

When nonbanks hurt, their warehouse lenders hurt too, though in different ways. A sharp reduction in mortgage originations — with no interest rate relief in sight — is causing a handful of bankers to quit the space.

A hearing of the Federal Financial Institutions Examination Council’s Appraisal Subcommittee covered gaps in appraisal training and the lack of appraisers in rural areas.