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Interim Guidance on Blue Water Law Implementation

August 16, 2019
George Brooks
VA has issued interim guidance for implementing legislation, which removes the VA guaranty cap on jumbos.
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GAO Says FHA May Have Sold Distressed Loans Prematurely

August 16, 2019
George Brooks
FHA may have sold ineligible delinquent loans to private investors in fiscal 2016 due to misclassification, according to a recent GAO report.
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Lenders Don’t Need Prior Approval to Cure IRRRLs

August 16, 2019
George Brooks
Lenders don’t need prior VA approval to cure IRRRLs that do not meet certain standards as long as it doesn’t increase loan costs.
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Appeals Court Upholds $298M Mortgage Fraud Fine Against Allquest

August 16, 2019
George Brooks
An appeals court upheld a fine against two companies for submitting false certifications on mortgages originated via unregistered branches.
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Proposed Changes to FHA Lender Certification Published

August 16, 2019
George Brooks
HUD is asking stakeholders to comment on proposed changes to FHA’s annual lender certification.
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HUD Expands Test for Disparate-Impact Claims

August 16, 2019
HUD will publish a proposed rule that will raise the bar for disparate-impact complaints.
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VA ‘Orphan’ Bill a Law Now

August 2, 2019
President Trump has signed into law the VA “orphan” bill to remove conflicting requirements that caused many VA refis to remain ineligible for delivery into Ginnie Mae pools.
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CHLA: Remove FHA Natural Disaster Loans from NW

August 2, 2019
George Brooks
Independent mortgage bankers have asked FHA to remove delinquent natural disaster loans in forbearance from the Neighborhood Watch database to ease investor concern over FHA lender performance.
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Bills Introduced to Reduce FHA Foreclosures

August 2, 2019
George Brooks
Legislation has been introduced in the House and Senate to help prevent FHA foreclosures by increasing oversight of mortgage servicers to ensure they are complying with loss-mitigation requirements.
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Around the Industry

July 19, 2019
George Brooks
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