The U.S. Department of Agriculture’s Rural Housing Service proposed excluding real estate commission fees from interested party contributions as part of an effort to lower closing costs for buyers.
The Mortgage Bankers Association’s chief economist warned of some deterioration in FHA loan pools, even as the industry and Ginnie Mae write off the recent increase in delinquencies as an immaterial consequence of altered modification timelines.
M&T Bank’s mortgage-banking income declined in the first quarter because of a change in how it values mortgage servicing rights. The bank is optimistic its FHA subservicing business will see stronger returns in the second half of the year.
The Office of the Comptroller of the Currency entered into a consent order with Chicago-based Federal Savings Bank to settle allegations that the bank misled VA borrowers on refinance loans.
FHA reminds servicers of occupancy verification; Georgia’s Community Bankshares gets a slap on the wrist for USDA business; FDIC appoints FHA advisor; FHA spreads narrow.
President Trump’s proposed budget for fiscal year 2027 would appropriate $160 million for FHA’s administrative expenses, level with the 2026 funding level.
The addition of the trial payment plan in FHA’s loss-mitigation waterfall appeared to have accounted for most of the recent jump in FHA severe delinquencies, according to research published by CRL.
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