HUD Allows HECM Lenders Leeway in Filing Documents April 17, 2020 Maria Volkova HUD has approved alternative documentation for claim payments as well as extending deadlines for delivery. Read More
Top-Ranked FHA Lenders Increase Hiring April 17, 2020 Maria Volkova A handful of top-ranked FHA lenders have ramped up their hiring in anticipation of processing a boatload of forbearance requests.Read More
Relief for Borrowers With FHA Multifamily Mortgages April 17, 2020 Maria Volkova Multifamily borrowers with FHA-insured loans can receive forbearance for 90 days under the CARES Act. Read More
Around the Industry April 17, 2020 Maria Volkova Greystone to provide $25 million in HUD-insured construction financing for a multifamily project; the COVID-19 outbreak has spurred technological innovation at FHA; A new hire for Down Payment Resource.Read More
Ginnie Tries to Reassure Investors About Nonbank Liquidity April 3, 2020 Paul Muolo Ginnie and FHA are working with Treasury and the Fed to allay fears about nonbank liquidity as COVID-19 lays fallow the U.S. economy. Read More
Ginnie Bulk Market Dead, MSR ‘Marks’ Will Be Brutal April 3, 2020 Paul Muolo There’s currently no bid for Ginnie Mae servicing rights and investment bankers are advising their clients to sit tight and ride it out. Read More
HUD Extends Forbearance as Unemployment Rises April 3, 2020 Maria Volkova HUD extends forbearance for a six-month period. As unemployment spikes, FHA/VA servicers brace themselves for delinquencies. Read More
FHA/VA Lenders Raise Credit Score Requirements April 3, 2020 Maria Volkova In the wake of the pandemic, FHA and VA lenders are raising credit score minimums, at least temporarily. Some are in mid-600s. Read More
VA Guidance for Lenders in Response to COVID-19 April 3, 2020 Maria Volkova The VA has released two notices outlining how lenders should address borrowers affected by COVID-19. Read More
Freedom, a Top Ginnie Issuer, Has Its Debt Put on ‘Negative Watch’ April 3, 2020 Paul Muolo Freedom Mortgage, a key originator of FHA and VA loans, recently had its debt downgraded. Of course, it’s hardly alone on that score. Read More