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Around the Industry

January 10, 2025
Monica Hogan
Scott Turner’s nomination hearing scheduled for next week; FHA updates draft mortgagee letter on partial claim document recording and payoff statements; Fannie Mae updates Desktop Underwriter in support of FHA and VA loan limit changes; FHA adopts Uniform Residential Loan Application for Title I loan programs; the Mortgage Bankers Association provides feedback on proposed updates to Title I manufactured housing program; FHA outlines changes on multifamily loan underwriting thresholds.
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HECM Endorsements Level in Third Quarter, FoA Slides

December 20, 2024
Brandon Ivey
Endorsement activity involving traditional HECMs declined slightly and production of HECMs for home purchase increased during the third quarter. Mutual of Omaha remained the top HECM lender. (Includes three data tables.)
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Third-Party Lending Share Shifts in Third Quarter

December 20, 2024
Brandon Ivey
Among a large group of FHA/VA lenders, the broker channel accounted for 24.8% of government-insured originations in the third quarter. UWM and PennyMac sharply increased their broker volume in the quarter. (Includes data table.)
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HUD Agenda Includes Proposal to Lift FHA Re-Sale Time Restrictions

December 20, 2024
Monica Hogan
HUD said its current rule adversely impacts the availability of affordable homes for sale.
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ICE Warns of Performance Risk from Recent VA Refis

December 20, 2024
Monica Hogan
More than a third of this year’s VA rate-and-term refinances were originated with loan-to-value ratios above 100%, according to ICE.
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Industry Opposes HUD Notices on Convenience Fees

December 20, 2024
Monica Hogan
Mortgage lenders are pushing back on enforcement actions against servicer convenience fees for optional expedited payment services.
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FHA Proposes Early T&I Reimbursement for Loans in Default

December 20, 2024
Monica Hogan
The proposal is meant to address liquidity challenges servicers face from tax and insurance advances in an elevated interest rate environment.
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FHA Makes Single-Family Loan Sale Program Permanent

December 20, 2024
Monica Hogan
The SFLS program is intended to yield a recovery to the MMIF that meets or exceeds the recovery obtained from a foreclosure-based claim.
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MBA Proposes Ginnie EBO Securitization Program

December 20, 2024
Monica Hogan
The Mortgage Bankers Association called on Ginnie Mae to create a new securitization program for early-buyout loans.
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MBA Urges Balance on FHA Rental Income Proposal

December 20, 2024
Monica Hogan
The trade group wants clarification on FHA’s plan to allow rental income from boarders in a primary residence to inform underwriting.
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