The partial government shutdown, now in its second week, has had limited impact on the FHA and VA lending programs but could be disastrous to federal rural housing programs if prolonged.
There are certain weaknesses in the Department of Veterans Affairs’ interim final rule on VA cash-out refinance loans that need to be ad-dressed to ensure borrowers and investors are protected from loan churning and other predatory lending practices.
Democrats on the House Financial Services Committee urged the FHA to reverse its “unofficial” policy of denying Deferred Action for Childhood Arrivals status recipients access to FHA loans.
Following the November release of FHA’s fiscal 2018 report on the health of the Mutual Mortgage Insurance Fund and increases in FHA loan limits, analysts at The Urban Institute have identified four FHA trends to watch for in 2019.
The mortgage banking industry has raised concerns about a legislative proposal that would eliminate the current government-sponsored enterprise market and create a new secondary market structure based on a Ginnie Mae model.
The Department of Veterans Affairs’ Loan Guaranty Service issued guidance to help detect, prevent and mitigate identity theft in connection with VA mortgage loans.
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