A proposal from the Urban Institute calls for a revamp of the refi process to make it more equitable for lower-income borrowers and borrowers of color.

The guidelines lay out the process lenders must develop for borrowers to request an appraisal reassessment when they believe a valuation was inaccurate or biased.

Freedom Mortgage more than doubled its production from the fourth quarter to the first. Mike Patterson, COO of the nonbank, said the growth was driven by attractive loan characteristics.

The Department of Housing and Urban Development has finalized rules that would modernize residential building standards.

Housing Secretary Fudge resigns; IRS postpones controversial changes to IVES; regulators to alter Basel capital proposal; banking regulators waive appraisal requirements in Maui; feedback sought on bank call-report proposal.

Facing criticisms that borrowers would intentionally default to qualify for VA’s upcoming loan-modification program, the agency noted that nearly 90% of its home loan portfolio is at a 2.5% to 3% coupon.

UWM was the top originator of purchase loans for the first nine months of 2023, while Rocket held the lead in refinance lending. The FHA saw a rising share of purchase loans sold to the agencies in the third quarter. (Includes four data tables.)

The FHA Mutual Mortgage Insurance Fund remained healthy despite the 30-basis-point cut in insurance premiums earlier this year.

Even as the geographic area of the FEMA-designated 100-year floodplain has expanded, the number of properties considered to be in the floodplain has declined.

Warehouse lender Texas Capital Bank claims it lost money after Ginnie Mae extinguished its interest in liens associated with the now-defunct Reverse Mortgage Funding.