FHA/VA loans in COVID-19-related forbearance continue to drop; VA updates eligibility rules on specially adapted housing grants; HUD plans a fair housing event; Ginnie non-agency early buyout securitization planned; VA to host advisory committee meeting on homeless veterans.
A Delaware Superior Court ruled that ACE American Insurance Co. must advance nearly $18 million to Guaranteed Rate on a claim the lender filed for defense costs related to allegations it violated the False Claims Act.
Key metrics reviewed in HUD’s single-family default monitoring system showed that residential servicers generally complied with HUD’s forbearance reporting requirements for FHA loans.
Two waivers address concerns that requiring re-reviews of which borrowers were eligible for foreclosure prevention options could take focus away from loss-mitigation efforts.
According to Ted Tozer, former Ginnie Mae president, the industry was warned ahead of time by the government guarantor of plans to tighten financial requirements for single-family MBS issuers.
Plagued with years of failed technology modernization initiatives, HUD is turning things around with an IT modernization roadmap deemed a success thus far by HUD's Inspector General.
Delinquency rates remain at low levels for multifamily mortgages in Ginnie MBS, though modified loans accounted for 18% the outstanding market. (Includes data chart.)