Former HUD Secretary Marcia Fudge joins Taft law firm as partner and public policy chair; MBA President Bob Broeksmit calls for national housing policy director; and Ginnie Mae to allow commingling of digital and paper loans.

A lender’s reconsideration of valuation process must include disclosure to the borrower at the point of a loan application and again when the borrower receives the appraisal.

Correspondent sales of government-insured mortgages originated during 2023 declined somewhat on an annual basis, but Veterans United upped its sales by 7.3%. (Includes data table.)

The Biden administration’s fiscal year 2025 budget request allocates $72.6 billion for HUD, which is higher by about $500 million from the FY23 enacted level.

Jeffrey Weidell, CEO of Northmarq, testified before a House oversight subcommittee last month on behalf of the MBA.

Improvements to the FHA home equity conversion mortgage program will help seniors maintain housing stability and financial security in retirement, according to Urban Institute’s Amalie Zinn.

FHA plans outreach and training to lenders and appraisers on the rule’s impact.

The course will focus on issues that originators might not yet have encountered, such as how to handle a VA loan assumption.

Former Ginnie Mae President Alanna McCargo joins FHLB San Francisco; industry and consumer groups support VA supplemental rulemaking on IRRRL program; VA drafting rule on ARMs.

Nonbank issuers in the Ginnie Mae program should have better access to funding from commercial banks to help bolster their liquidity, according to a proposal from the Housing Policy Council.