The FHA has posted a quick-reference sheet on its website to help lenders navigate the agency’s new Loan Review System. The quick-reference sheet summarizes the most important information in the LRS user manual. The LRS is an electronic platform for single-family, quality-control processes that includes post-endorsement loan reviews, direct endorsement authority test cases, lender-monitoring reviews, and lender-self-reporting of fraud and other material findings. Defect taxonomy, a key LRS component, provides a streamlined method of identifying and capturing information about loan defects uncovered through individual loan reviews. Lenders have four opportunities to respond to FHA reviews. They may access the LRS to view the results of the review in detail but they may not edit or submit responses, upload documents, manage binder requests or create self-reports. When FHA requests a ...

Ginnie Mae Spokesperson Leaves Agency. Cynthia Adcock, director of communications and congressional relations at Ginnie Mae, will no longer be with the agency effective Sept. 4, 2017. Adcock will assume similar duties and responsibilities as a director with the Federal Housing Finance Agency. Michael Huff will handle media inquiries related to Ginnie Mae and congressional matters. FHA Lenders Settle Alleged Violations of FCA, FHA Requirements. The Department of Housing and Urban Development’s Office of the Inspector General recently announced receipt of $44.3 million from separate settlements with two FHA lenders. The settlements resolve allegations of fraudulent claims and violation of FHA requirements against Financial Freedom of Austin, TX, and Prospect Mortgage of Sherman, Oaks, CA. On May 16, 2017, Financial Freedom, an FHA servicer, agreed to pay the ...

During a press briefing with the media this week, HUD officials estimated there are roughly 24 million seniors with untapped equity in their homes…

The Fed just greenlighted a bank M&A deal...

NRMLA said the changes "diminish the benefit (amount of loan proceeds) available and increase the costs (increased upfront mortgage insurance premium) to most borrowers.”

Cowen & Co. predicts that storm damage caused by the hurricane could “encourage” lender consolidation…

So, how is the program doing? A spokesman for UWM said 40 firms were created with the first round of seed money and all are still in business.

The weighted average servicing fee is 34 basis points, the delinquency ratio 3.13 percent.

In earlier funding rounds, Blend's backers have included businessman Peter Thiel, who co-founded PayPal...

Senate Democrats opposing the administration’s proposed cuts to HUD’s FY 2018 spending bill have reportedly placed a hold on Pantenaude’s nomination...