The U.S. Department of Agriculture’s Rural Housing Service is considering extending two manufactured-housing pilot programs implemented in a number of states under the USDA Section 502 single-family housing guaranteed loan program. The planned expansion would provide a more balanced regional representation that would help RHS measure the pilots’ impact. Launched in August 2016, the first pilot involves financing of existing manufactured homes. The second pilot involves ownership requirements for new energy-efficient manufactured and modular houses in land-lease communities operating on a nonprofit basis. State requests to join one or both pilots are submitted to the USDA state director of rural development. The deputy administrator of single-family housing decides on the request. Decisions would be based on the date the request was received and whether the ...

HUD Nails Florida Company with Discrimination Charge. The Department of Housing and Urban Development charged a Florida company and its owners with housing discrimination for intentionally targeting Hispanic homeowners in a predatory mortgage modification scheme that increased, rather than decreased, their risk of foreclosure. HUD filed charges of discrimination under the Fair Housing Act against Advocate Law Groups of Florida and owners Jon B. Lindeman, Jr., and Ephigenia Lindeman. The defendants allegedly ran a deceptive advertising campaign for loan modification that aired on Spanish-language radio and television throughout Florida. Homeowners were offered $500 gift cards as an enticement to sign for a loan modification. Ginnie Mae MBS Outstanding Increases. Ginnie Mae mortgage-backed securities issuance totaled $38.9 billion in August, raising its ...

The mortgage industry welcomed legislation passed by the House Financial Services Committee last week to clarify the seasoning requirements of certain VA streamlined mortgage loans and resolve the problem of VA “orphan” loans.

The central bank could lose its kingpin status if commercial banks continue buying…

With nonbanks dominating Ginnie Mae’s single-family MBS program, liquidity is an important factor in the issuance and servicing of Ginnie MBS and has been the agency’s focus in recent years.

So far, the final rule has not been delivered for OMB review, a process that in the past has sometimes taken months to complete.

The release of the Department of Housing and Urban Development’s long-anticipated final rule on condominium lending reform, which aims to boost FHA activity in the sector, may take longer than expected, according to industry participants.

Through the first eight months of the year, Ginnie issuance was down 11.0 percent...

Analysts blamed the reduction in volume on the new lower Principal Limit Factors...

Both these MSR portfolios have low note rates…