As the landscape shifts from refinances to purchase mortgages, the FHA program can be a volume generator, FHA Commissioner Julia Gordon told attendees at the annual Mortgage Bankers Association convention.
Cash-strapped nonbank servicers were less likely than banks to help borrowers through pandemic-era mortgage relief, according to a new Federal Reserve report on the CARES Act forbearance program.
The Mortgage Bankers Association suggested FHA reinstate a mortgage lender’s option to document a borrower’s previous work history through a verbal verification of employment, among other recommendations.
RSS