The recent tightening of FHA loss-mitigation options will likely lead to more early loan buyouts, which PennyMac CEO David Spector sees, at the very least, as a net neutral development for the business.
A week before the Department of Veterans Affairs closed the door on its Servicing Purchase program, it issued some guidance for uncertain servicers, but holes remained.
FHA has rescinded a pair of policies enacted in 2022 that were meant to give owner-occupants an upper hand in foreclosure sales over institutional investors.
The steep property insurance and tax bills driving the rise in FHA late rates are not likely to come down anytime soon, meaning delinquencies will likely stay up too.
The Mortgage Bankers Association urged the Department of Housing and Urban Development to scrap regulatory requirements for multifamily housing under the National Environmental Policy Act, along with other environmental and zoning restrictions.
FHA upgrades FHA Connection system to guard against cyberattacks; HUD to revise legal instructions for lenders to obtain full insurance benefits; White House proposes eliminating single-family housing direct loans under the USDA’s Rural Development program.
FHA announced sweeping loss-mitigation changes this week, including limiting borrowers to take one loss-mitigation option every two years, rather than a planned 18-month restriction.
The timeline and likeliness of the implementation of a partial claims program are hazy as the Department of Veterans Affairs gears up to end its last-resort home-retention option on May 1.
The outcome of a judge’s ruling in Ginnie Mae’s favor over its seizure of collateral from Texas Capital Bank could make warehouse lenders wary of helping lenders facing liquidity issues, or of lending to reverse-mortgage originators at all, industry participants warn.
RSS