Outlook for Wells’ participation in FHA market unclear; Biden signs legislation to improve VA appraisals; MBA calls for higher fee on mortgage assumptions; VA revises forms; FHA hosting webinar on quality assurance; Rural Housing Service updates program guidelines.

Retail lending took another precipitous drop in the third quarter. But the fall is more of a return to the norm after heady days fueled by refinances. (Includes data chart.)

VA lending took the brunt of the 3Q22 downturn as its streamlined refinance business all but disappeared. Meanwhile, UWM overtook Rocket in the FHA market. (Includes three data charts.)

VA wants to know if its loss-mitigation options are flexible and adaptable enough for transitional times.

With the FHA MMIF actuarial audit due next month, industry watchers are speculating the timing of an announcement of a potential MIP cut.

A VA Native American Direct Loan offers the same benefits as one from the VA home loan guaranty program but with no private lender in the middle, said John Bell of the VA Loan Guaranty Service.

Ginnie eyeing permanent emergency credit facility for nonbanks; USDA to hold training sessions on Guaranteed Underwriting System; home equity among seniors hits new record; Ginnie plans temporary business outage; Mortgage Bankers Association rustles support for VA appraisal bill; USDA expands Native American Relending Pilot program.

FHA/VA originations decreased in the second quarter though lending was up in the broker channel. PennyMac, the top government loan originator, saw declines across all three production channels. (Includes data chart.)

At a congressional hearing, industry stakeholders called for increased funding to boost technology and staffing at rural housing programs.

Lenders funded $17.71 billion of home-equity conversion mortgages during the first six months of the year as housing wealth continues to grow among homeowners 62 and older. (Includes three data charts.)