Department of Housing and Urban Development programs would be funded at much lower levels than those called for in President Biden’s budget proposal under a fiscal 2024 bill introduced in the House this week.

USDA deputy secretary confirmed; HUD seeks comments on burdens facing FHA lenders in maintaining eligibility; Ginnie Mae expands LMI disclosure initiative; and more.

Loans originated by correspondents made up nearly half of first-quarter government-insured lending, a new analysis shows. (Includes data chart.)

While the rules don’t apply to single-family homes, the agency has programs to help seniors and others improve their residences and make them safer.

FHA raises large multifamily loan limits; VA moves regional loan center email systems; USDA issues standardized multifamily appraisal assignment guidance; HUD opens independent Office of Manufactured Housing Programs; USDA sets new interest rates for single-family direct home loan programs; and more.

Lenders produced $4.00 billion in HECMs during the first quarter. Soaring interest rates, a cooling housing market and retreating inflation have all contributed to the 52.2% year-on-year drop in volume. (Includes three data charts.)

The volume of FHA and VA originations continued to fall in the first three months of the year, marking the eighth straight quarter-over-quarter decline. (Includes three data charts.)

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.

Correspondent sales of government-insured loans declined by 28.6% on an annual basis in 2022, though Veterans United boosted its sales by 13.8%. (Includes data chart.)

The Mortgage Bankers Association wants FHA to extend to all lenders certain documentation waivers recently made available to Reverse Mortgage Funding transferees.