Congress withdrew a provision in the Blue Water Navy Vietnam Veterans Act that would have raised the guarantee fee on VA home loans. Instead, it approved the removal of the cap on VA mortgages.
The agency has lifted a suspension of loanDepot from its multi-issuer securities program, noting the nonbank’s prepayment speeds on VA loans have normalized and are strictly being monitored.
Ginnie Mae MBS production rose in April thanks to strong increases in both purchase and refinance business. Rate-term transactions accounted for much of the surge in refi activity, but cash-out deals remain the most prevalent.
Dozens of VA lenders have been subpoenaed by the US Attorney’s Office in Brooklyn to turn over hundreds of VA loan files in connection with an investigation of their lending practices.
RSS