Age and mobility account for 73% of the homeownership gap between active-duty servicemembers and the nonmilitary population, according to a recent report from the Urban Institute’s Housing Finance Policy Center.

Production of FHA reverse mortgages declined 11.4% from the fourth quarter to the first. Industry watchers are calling for reforms to increase program uptake. (Includes three data tables.)

FHA’s share of the government-insured market declined to 60.8% in the first quarter of 2024, while VA production improved from the fourth quarter led by IRRRLs. (Includes three data tables.)

Correspondent sales of government-insured mortgages originated during 2023 declined somewhat on an annual basis, but Veterans United upped its sales by 7.3%. (Includes data table.)

Improvements to the FHA home equity conversion mortgage program will help seniors maintain housing stability and financial security in retirement, according to Urban Institute’s Amalie Zinn.

Both the correspondent and broker channels increased their share of FHA and VA lending in 2023. (Includes data table.)

HUD issued a final rule clarifying requirements for its Section 184 Indian Housing loan guarantee program.

Combined FHA/VA forward mortgage volume declined by 17.7% in the fourth quarter. For the full year, volume was down 19.9%. (Includes three data tables.)

VA processed 2,244 loan assumptions in 2023, compared with just 308 in the previous year. Under a VA loan assumption, a buyer takes over the seller’s mortgage at its existing terms.

Cardinal Financial plans to offer the industry’s first security backed by VA mortgages scored with FICO 10 T.