Reverse mortgage originations are not immune to the impacts of elevated interest rates, a DBRS Morningstar analyst notes.

Director Rohit Chopra noted borrower hardships due to excessive paperwork, as well as fees and negative credit reporting events that occurred while a loss-mit application was under review.

The inspector general found fault with how the industry in general and Mr. Cooper in specific handled pandemic-era loss mitigation.

For the third consecutive month, mortgage credit availability declined, with some products reaching their lowest levels in a decade. It’s only expected to get worse as lenders worry about the economy.

UnidosUS said a new initiative will use policy advocacy and ground-level services such as housing counseling to close the Latino homeownership gap.

The Department of Housing and Urban Development wants all new or substantially renovated homes insured by FHA to be elevated an additional two feet above base flood elevation.

The FHA has more than a dozen final or proposed rules lined up for action over the next 12 months. The agenda includes rules to modernize engagement with mortgagees in default and to update requirements for firms that invest in FHA mortgage servicing.

The VA’s Steve Varlas spoke about tech modernization at the Mortgage Industry Standards Maintenance Organization’s spring summit in Portland, OR.

FHA this week announced a new language access web page with key single-family home mortgage documents and educational resources translated into Spanish, Chinese, Korean, Tagalog and Vietnamese.

Mortgage servicers didn’t always sufficiently comply with FHA loss-mitigation requirements for borrowers whose COVID-19-related forbearance had ended, the inspector general for the Department of Housing and Urban Development said this week.