The new policy only applies to FHA multifamily loans endorsed after the release of the Sept. 7 mortgagee letter.

The House has passed a bill that would require VA to update the guidance and regulations of its home loan program, especially around appraisals.

The Mortgage Bankers Association has recommended changes to FHA’s plans to modify the 203(k) Rehabilitation Mortgage Insurance Program.

The Department of Housing and Urban Development said it is exploring ways to boost greater access to mortgage credit for homebuyers seeking smaller mortgage loans.

FHA pauses integration of Catalyst Electronic Appraisal Delivery module; VA sends proposed rule to OMB; House committee introduces bill to strengthen the Community Reinvestment Act; VA Financial Management System will be unavailable Oct. 1 to Oct. 5; Ginnie Mae to hold modernization outreach call; MBA survey shows uptick in government loan share of weekly mortgage applications.

Spreads had steadily widened in the expanded-credit sector between February and July. But as spreads declined in August, demand for expanded-credit MBS appears to have improved.

MISMO is getting close to releasing revised standards for data collection in the non-agency MBS market. The effort could prompt efficiencies for lenders, due diligence firms and rating services.

Shellpoint handled servicing on nearly 35% of the non-agency MBS issued in the second quarter of 2022. (Includes data chart.)

A number of lenders have started offering conforming mortgages with balances as high as $715,000, even though the GSE loan limit is $647,200 through the end of this year. As with prior years, the lenders are anticipating higher loan limits for the GSEs next year.

Newfi is offering a non-QM where the interest rate incrementally steps up annually for five years then remains fixed. Meanwhile, Milo launched a cash-out crypto mortgage, where borrowers pledge cryptocurrency in exchange for a loan as large as $5.0 million.