Ginnie details buyout authority for loans impacted by hurricanes; HUD seeks comments on inflation-adjusted civil penalty policy; VA extends recission date for COVID-related relief; CFPB issues RFI on refis; VA submits loss-mit rule to OMB; Senate approves stopgap spending bill.

Ginnie Mae is currently conducting one-on-one discussions to help issuers better understand the reasoning behind its new financial eligibility requirements that are set to take effect next year, the agency’s President Alanna McCargo said.

Four trade groups, including the Mortgage Bankers Association, are asking the White House’s National Economic Council to support a reduction in FHA mortgage insurance premiums.

The new policy only applies to FHA multifamily loans endorsed after the release of the Sept. 7 mortgagee letter.

The House has passed a bill that would require VA to update the guidance and regulations of its home loan program, especially around appraisals.

The Mortgage Bankers Association has recommended changes to FHA’s plans to modify the 203(k) Rehabilitation Mortgage Insurance Program.

The Department of Housing and Urban Development said it is exploring ways to boost greater access to mortgage credit for homebuyers seeking smaller mortgage loans.

FHA pauses integration of Catalyst Electronic Appraisal Delivery module; VA sends proposed rule to OMB; House committee introduces bill to strengthen the Community Reinvestment Act; VA Financial Management System will be unavailable Oct. 1 to Oct. 5; Ginnie Mae to hold modernization outreach call; MBA survey shows uptick in government loan share of weekly mortgage applications.

Following a boom in buyout activity of FHA and VA loans from Ginnie Mae pools in the first 18 months of the COVID-19 pandemic, loan removals continue to decline. (Includes data chart.)

The government guarantor is trying to get more sophisticated in the way it evaluates issuers, and that’s a good thing, according to former Ginnie Mae President Ted Tozer.