Federal regulators discussed best practices for lenders’ redlining analysis to head off regulatory risk. Separately, Navy Federal Credit Union faces mortgage lending discrimination allegations.
Endorsements of FHA and VA insured loans increased by 9.2% in the third quarter while total first-lien originations declined. (Includes three data tables.)
Some $30.43 billion in Ginnie Mae mortgage-backed securities was issued last month. FHA volume held up better than VA activity. (Includes two data tables.)
The Mortgage Bankers Association and the National Mortgage Servicing Association want FHA to make additional revisions to rules for its planned partial payment supplement partial claim loss-mitigation program.
Industry participants support FHA’s plans to update policy on acceptable monetary investment funding sources and interested-party contributions for its home equity conversion mortgage for purchase program.