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FHA Drops Warranty Requirements for New Single-Family Construction

December 14, 2018
The Department of Housing and Urban Development has issued a final rule streamlining single-family home-warranty requirements for FHA insurance.
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Around the Industry

December 14, 2018
Mortgage broker trade group introduces NAMB All-In. Genworth launches risk-based pricing engine. VA updates fee-cost schedule. Industry groups pressure Senate to confirm Trump nominee for GNMA.
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Finance of America Will Pay $14.5 Million to Settle FHA Claims Tied to One of Its Acquisitions

December 13, 2018
George Brooks
The complaint further alleges that company executives have been aware of the poor EPD rates since 2011 but apparently did nothing to resolve the problem.
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VA Lender Sued for Deceiving Veterans Regarding IRRRLs

December 10, 2018
The CFPB last week sued Village Capital & Investment for deceiving veterans regarding the Interest Rate Reduction Refinance Loans program.
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Agency MBS Issuance Not-So-Bad in November 3Q18, Off by Just 1.0 Percent

December 7, 2018
John Bancroft
Agency production last month was buoyed by an increase in securitization of refinance loans…
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What We’re Hearing: Mark Calabria to Head the FHFA (Looks That Way) / Can Mulvaney Fix the U.S. Debt Problem? / Keeping the Debt Clock at the HFSC? / Kraninger Yes, Michael Bright No / Nomura and Ditech (More) / CMG Mortgage Hires Regency Executive / Home

December 7, 2018
Paul Muolo
If Michael Bright is not confirmed in the current Congress, President Trump will have to re-nominate him...
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CFPB Accuses Nevada Nonbank of Misleading Vets on IRRRLs in San Antonio

December 6, 2018
Paul Muolo
The government charges, the “apples to apples” comparisons on refis shown to prospective customers by Village Capital’s LOs were flawed and had “inaccurate” results.
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As VA Plans Another Clampdown on Refi Loans, Analysts Want Ginnie to Put High-LTV Cash-Outs in Separate Pools

December 6, 2018
Uncertain as to what the Department of Veterans Affairs will propose to curb churning of VA cash-out refinance loans, analysts are recommending that Ginnie Mae temporarily segregate some of the loans in mortgage-backed security pools until the department implements new rules.
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HFSC Hearing on GSE Bill Postponed. Time is Running out for Chairman Hensarling…

December 5, 2018
Paul Muolo
Some industry lobbyists believe the Senate Banking Committee hearing on GSE pilot programs will not be held this year at all.
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VA Prepares to Move Against Abusive Cash-Out Refis, but Details are Light

December 3, 2018
John Bancroft
The VA notice says there are “urgent and compelling circumstances” that warrant issuing an interim final rule that will go into effect quickly.
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