The Mortgage Bankers Association said VA lenders currently have to rely on a patchwork of mortgage-related guidance scattered across circulars in addition to the Lenders Handbook.
The trade group said the planned relocation raises doubts about whether sufficient Rural Housing Service staff will stay on to implement the delegated underwriting authority pilot program.
Ginnie Mae single-family servicing outstanding increased modestly during the second quarter, but individual servicers’ portfolios saw big movements. (Includes four data tables.)
The Department of Housing and Urban Development plans to pursue rulemaking to allow a partial claim to be secured under the original mortgage, rather than as a subordinate note.
Trade groups urged FHA to adopt a more holistic approach to determining the condition of a property, aligning its standards with those of the government-sponsored enterprises.
The new law calls for increased collaboration between federal housing agencies and seeks to restrict the ability of large investors to purchase swathes of single-family homes.