Mortgage broker trade group introduces NAMB All-In. Genworth launches risk-based pricing engine. VA updates fee-cost schedule. Industry groups pressure Senate to confirm Trump nominee for GNMA.
Retail originations declined more than third-party production in the three major mortgage-product categories during the third quarter of 2018, according to a new analysis by Inside Mortgage Trends. Based on survey data from a broad cross-section of lenders, retail originations fell 8.8 percent from the second to the third quarter. The wholesale-broker sector was down 1.9 percent, while correspondent production posted a 1.9 percent increase. The data ... [Includes two data charts]
Home Equity Conversion Mortgage originations saw a modest 4.7 percent sequential fall in the third quarter as the downward volume trend for reverse mortgages continued. [Includes one data chart.]
In an analysis of FHA’s fiscal 2018 audit of the Mutual Mortgage Insurance Fund, analysts believe the Department of Housing and Urban Development may be inclined to shrink FHA’s footprint modestly given the risk profile of its new business.
The Department of Housing and Urban Development has not conducted a single nonperforming loan sale in 2018 because apparently investors have found a quicker way to obtain newly foreclosed properties.
The U.S. Department of Agriculture’s Rural Housing Service has issued guidance regarding short sales and sale of real estate-owned properties backed by rural housing loans.
The FHA is calling for broader statutory authority for the Mortgagee Review Board in determining the type and amount of penalties the board can assess to strengthen lender enforcement and eliminate the need for False Claims Act cases.
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