During her Senate confirmation hearing, Alanna McCargo, the nominee for Ginnie Mae president, pledged to ensure loss-mitigation tools remain protective as borrowers continue to exit forbearance programs.
FHA extended forbearance by another six months on recent additions to the recovery program and proposed a 40-year loan modification as a loss-mitigation option.
The Government Accountability Office warned the FHA Catalyst technology modernization program faces an increased risk of outspending its planned $91.9 million budget.