As rates increase, more deals are hitting the market...

Senior Vice President of Issuer and Portfolio Management Michael Drayne said recently the revised acknowledgement agreement could be ready by the end of September.

The identity of the seller was not revealed in the offering circular except to say the company is “well capitalized.”

There is no clear explanation as to why VA rates are lower than the competition, but some industry participants, including Tom Piercy of Incenter Mortgage Advisors, speculate prepayments might be the reason.

To date, FCA/FHA settlements have netted the federal government roughly $5.0 billion.

Too many nonbanks have their net worth tied up in servicing rights. And that’s a problem…

Despite shying away from FHA production, Wells Fargo remained a top Ginnie issuer, closing August with $3.83 billion and ranking third overall.

Another reason for the cut in fees: rural housing delinquencies and foreclosures are at record lows.

An internal compliance audit has uncovered weaknesses in the FHA’s information systems that could expose the agency to hacking. The Department of Housing and Urban Development’s Inspector General recently issued an audit report indicating that FHA’s Single Family Insurance System (SFIS) and Single Family Insurance Claims Subsystem could be in danger of security breaches. However, the report withheld details of the audit, saying the findings were not for public disclosure. The report explained that the audit was part of the internal-control assessments required for the FY 2015 financial statement audit under the Chief Financial Officer’s Act of 1996. The audit’s objective was to provide an assessment of SFIS control compliance with HUD’s information-technology policies and federal IT system security and financial management requirements. The SFIS contains information on FHA borrowers, including ...

The FHA is seeking comment on proposals for revising the schedule of fees an agency-approved consultant may charge on a Section 203(k) property repair and rehabilitation mortgage. The agency wants public comment on whether fees charged by FHA 203(k) consultants should be based on the total cost of repairs, as they are currently, or on other metrics. Consultants charge varying fees on a standard 203(k) mortgage and a limited 203(k) mortgage. The standard FHA repair/rehab mortgage is designed for remodeling, rehabilitation and repairs that involve structural or more complex work that will cost more than $5,000. The limited 203(k) home loan is only for minor remodeling and non-structural repairs. An FHA-approved consultant is required for all standard 203(k) mortgages but not necessarily for a limited 203(k) home loan. FHA-approved 203(k) consultants who are placed on ...