Without additional funding support, nonbanks don’t have options to fund servicing advances for loans that are 90 or more days past due, former Ginnie Mae President Ted Tozer said.
Loan removals from Ginnie MBS increased in the second quarter of 2023. Removals are largely tied to loan payoffs, though there are some variations among servicers. (Includes data chart.)
The Ginnie president said the agency is working with the Federal Home Loan Banks and other government agencies to determine how they might aggregate loans from smaller lenders to give them access to the platform.
The Mortgage Bankers Association and the Housing Policy Council have asked the VA to allow for a comment period before it finalizes a new veterans assistance servicing purchase program.
The Mortgage Bankers Association wants the Departments of Agriculture and Housing and Urban Development to consider the cost implications of their proposal on new energy standards for the construction of multifamily properties.
VA stopped accepting new applications for its temporary COVID-19 partial claim payment program last October. A new circular updates the servicer waterfall to reflect current home retention options.
The Department of Housing and Urban Development and the National Association of Real Estate Brokers are partnering to help address appraisal bias through professional training and consumer education.
The delinquency rates on FHA and VA loans decline; USDA revises areas that no longer qualify as “rural” under its single-family housing program; FHA has released updates to its single-family housing policy handbook.
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