FHA Issues Waiver of Property Inspections in Disaster-Stricken California Counties. FHA has issued a waiver of its timing policy for completing property inspections prior to closing or endorsing a loan for FHA insurance. The waiver is in effect in presidentially declared major disaster areas in Lake and Shasta Counties, CA, that were ravaged by wildfires and high winds. FHA believes that the wildfires and high winds have stabilized so as not to cause any further damage to properties, even though FEMA has not declared “all clear” in the affected areas. The waiver allows damage inspections to be completed after Oct. 2, for properties located in the PDMDA. NC Commissioner of Banks Amends State Reverse Mortgage Rules. The North Carolina Commissioner of Banks recently amended its ...

Lenders expressed support for the FHA’s new interim policy requiring a second appraisal for home-equity conversion mortgages when the initial property valuation may be inflated. The new appraisal policy for HECMs took effect on Oct. 1 and will be in place through Sept. 1, 2019. FHA will review the policy to determine whether to renew it beyond fiscal year 2019, said FHA Commissioner Brian Montgomery during a press briefing this week. FHA will perform a collateral risk assessment of ...

The major driver was a 16.8 percent jump in Fannie Mae issuance…

In 10 cases, the servicing process was delayed by more than two years...

Appraisal bias remains a primary concern…

If Ocwen reenters the servicing market as a buyer it will be doing so at a time when MSR prices are the highest they’ve been all decade...

But there’s a catch: the portfolio has a delinquency rate of 11.5 percent and foreclosures of 1.5 percent.

However, some large commercial banks are willing to remain in the market through correspondent arrangements…

The trading peak for the year came in February at $239.2 billion.

Will FHA hike its premiums? Maybe, maybe not...