FHA to discontinue paper claims option; VA updates loan fees; Mortgage Bankers Association seeks Congressional action on multifamily housing; FHA corrects mortgagee letter on expanded loss-mitigation options; USDA maintains appraisal fee; HUD updates civil monetary penalties.

FHA will expand its loss-mitigation options to borrowers at risk of default even if COVID-19 wasn’t the cause of their economic challenges.

The Urban Institute has called on federal housing agencies to accommodate automated valuation models as their starting points, with human appraisers checking the accuracy of the data as a back-up.

The Office of Inspector General found that the bandwidth on HUD’s virtual private network couldn’t accommodate all the employees who needed remote access during the pandemic.

The National Consumer Law Center said FHA should reform its home equity conversion mortgage program to reduce the number of so-called preventable foreclosures.

The new proposal from USDA’s Rural Housing Service would eliminate the need for a second lien in new servicing options for non-performing home loans.

Members of the National American Indian Housing Council will meet with legislators next month in Washington, DC.

Ginnie announces new LMI ESG disclosures; HUD seeks comments on proposal to expand housing counseling tailored to tribal communities; HUD issues RFI on learning agenda supplement; Housing and Insurance subcommittee chair named; House committee disallows changes to veterans’ ability to testify virtually; USDA updates handbook.

By targeting price cuts at low-FICO score and high-LTV borrowers, the new pricing grids of Fannie Mae and Freddie Mac could increase market overlap with FHA.

Only 23 lenders made streamlined VA refinance loans during the fourth quarter of 2022 as high interest rates have made the program nearly useless for veterans.