The Department of Veterans Affairs’ first annual conference since 2019 will include panels for mortgage servicers and home appraisers in addition to lender-focused talks.
White House releases budget request; MBA seeks clarifications from FHA on expanded COVID loss-mitigation options; MBA asks VA to consider appraisal-related policy reforms; HUD finalizes rule removing LIBOR as approved index for FHA ARMs; House bill seeks to make permanent mortgage insurance premium tax deduction.
Ginnie Mae has reduced the required minimum size for mortgage-backed securities pools with home-equity conversion mortgages from $1.0 million to $250,000.
If the largest servicer of HECMs couldn’t handle the financial burden posed by mandatory buyouts of the loans, what hope is there for others? FHA is being urged to make changes to HECM policies. (Includes data chart.)
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.
RHS finalizes new rule for single-family loan program; HUD to require unique entity identifier for FHA lenders; USDA to update guidance on default status codes; MISMO announces enhancement for industry loan application dataset; USDA introduces four new forms; HUD awards housing counseling grants.
The new standards are a result of a collaboration between Ginnie and the Federal Housing Finance Agency to align rules for their counterparties. Most of the new standards take effect Sept. 30, 2023.