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McCargo Touts Interagency Harmony on ESG Data

March 10, 2023
Monica Hogan
Coordination with FHA and the VA has been instrumental in helping Ginnie Mae implement its environmental, social and governance mortgage-backed securities initiative.
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FHA/VA Lender Banned for Making False Representations

March 10, 2023
Monica Hogan
The CFPB has permanently banned RMK Financial/Majestic Home Loans from the mortgage lending business for repeatedly disseminating misleading marketing material.
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HECM Denial Rate Higher for Black Seniors, UI Finds

March 10, 2023
Monica Hogan
Policy changes could curb denial rates of Black applicants to FHA’s home equity mortgage conversion program, an Urban Institute report says.
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Around the Industry

March 10, 2023
Monica Hogan
White House releases budget request; MBA seeks clarifications from FHA on expanded COVID loss-mitigation options; MBA asks VA to consider appraisal-related policy reforms; HUD finalizes rule removing LIBOR as approved index for FHA ARMs; House bill seeks to make permanent mortgage insurance premium tax deduction.
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For Now, Industry Happy With 30-bps FHA MIP Cut

February 24, 2023
Monica Hogan
FHA is cutting annual mortgage insurance premiums, effective March 20. Lenders are seeking operational clarity on loans already in the origination pipeline.
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Government Leaders Vow Continued Collaboration

February 24, 2023
Monica Hogan
Federal housing agencies will continue to collaborate on loss-mitigation options following their teamwork when responding to the COVID-19 pandemic.
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Ginnie Reduces HMBS Pool Size to Address Issuer Liquidity

February 24, 2023
Monica Hogan
Ginnie Mae has reduced the required minimum size for mortgage-backed securities pools with home-equity conversion mortgages from $1.0 million to $250,000.
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FHA Seeks Feedback to Inform Rehab Loan Policy Updates

February 24, 2023
Monica Hogan
FHA is taking comments through April 17 on a request for information on the barriers consumers and lenders face in accessing the FHA 203(k) rehabilitation mortgage program.
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Katrina-Related Homeowner Debt Forgiven for Louisiana Borrowers

February 24, 2023
Monica Hogan
The Department of Housing and Urban Development announced an agreement with Louisiana that will free borrowers from debt related to a program meant to mitigate against hurricane risk post Katrina.
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‘Gateway Communities’ Face Housing Challenges

February 24, 2023
Monica Hogan
The USDA’s Section 502 loan program could be the answer to the affordable housing crisis in towns near tourist attractions.
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