Industry watchers have called on VA to release a draft policy document describing the details of its proposed veterans assistance servicing purchase program by Sept. 21.

The Mortgage Bankers Association wants FHA to clarify language around the separation of credit and collateral delegated endorsement designations.

The Money Source has agreed to pay $58,000 in civil monetary penalty to settle allegations of servicing violations.

FHA said the requirement unnecessarily prevented or delayed borrowers from obtaining mortgages.

The bureau found a four-fold increase in the number of reverse mortgage direct mail advertisements sent to consumers over the past two years compared to 2019 and 2020.

The pilot program was previously limited to only certain states and territories and included requirements that restricted program access.

MISMO seeks participants for VA-document-related working group; Senate banking subcommittee to hold housing supply hearing; HUD to host housing counseling conference; OMB to hold tribal consultation on 2025 budget; HUD to co-sponsor special purpose credit program roundtable; UWM expands soft credit check program.

Federal housing agencies are directing mortgage servicers to instate a moratorium on foreclosures for homeowners affected by the Maui wildfires.

Without additional funding support, nonbanks don’t have options to fund servicing advances for loans that are 90 or more days past due, former Ginnie Mae President Ted Tozer said.

Loan removals from Ginnie MBS increased in the second quarter of 2023. Removals are largely tied to loan payoffs, though there are some variations among servicers. (Includes data chart.)