Ginnie Mae saw a modest increase in issuance of single-family mortgage-backed securities in January, according to an Inside FHA/VA Lending analysis of MBS disclosures. [Includes one data chart.]
The U.S. District Court for the Northern District of California has approved a class-action settlement between borrowers and a large bank to resolve allegations of illegal and unfair collection of post-payment interest on FHA-insured mortgages.
Ginnie Mae approved far fewer issuers last year than in 2017, according to agency data. Only eight out of 28 applicants were approved to participate in its mortgage-backed securities program, as against 22 issuers in the previous year.
Home Equity Conversion Mortgage originations declined in December-January due in part to the recent government shutdown and an overall slowdown in HECM activity, according to an analysis by Situs, Inc.
Congress is reportedly considering a legislative proposal to charge higher guarantee fees for VA mortgages to cover healthcare costs of Korean and Vietnam War veterans who were ex-posed to herbicides, such as Agent Orange and other toxic agents.
A Wall Street lobbying group has urged the Department of Veteran Affairs to change its cash-out refinance interim final rule, calling par-ticular attention to the net tangible benefit provision.
Industry representatives are urging the Department of Veterans Affairs to delay an interim final rule on VA cash-out refinance loans for fear that lenders may stop offering the product.
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