The Mortgage Bankers Association and the Housing Policy Council want the VA to carefully consider the specifics of a new loss-mitigation program, the VA Servicing Purchase program, it plans to unveil this summer.
Loan holders or their authorized servicing agents with automatic authority must decide on a completed loan assumption application within 45 calendar days of receipt, VA said in new guidance.
Members of the House Financial Services Committee are seeking clarification related to the treatment of delinquent loan buyouts from Ginnie Mae pools in the new Community Reinvestment Act proposal.
Ginnie Mae announces implementation timeline for new single-family pool delivery; Ginnie signs memo with USDA on social metrics data sharing for ESG disclosures; HUD OIG issues semiannual report.
FHA lending is concentrated on borrowers with loan-to-value ratios greater than 95%, while private MI activity is focused on borrowers with LTV ratios between 85% and 95%, according to an analysis by Inside FHA/VA Lending of agency mortgage-backed securities disclosures.
A revised version of the Homes for Every Local Protector Educator and Responder Act was introduced in Congress last week. The bill would offer downpayment assistance through the FHA loan program for many teachers and first responders.
Under the modified policy, FHA decreased the minimum loan balance threshold at which a mortgagee can submit the assignment request for a home equity conversion mortgage.
The Department of Housing and Urban Development didn’t ensure lenders consistently followed temporary forbearance policy requirements or ensure that indemnification agreement data and related records were complete and accurate, according to the HUD Office of Inspector General.
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