Sens. Ruben Gallego, D-AZ, and Dave McCormick, R-PA, this week introduced legislation that would sharply increase FHA multifamily loan limits.

The requirements for new construction were established in a final rule issued in April 2024. The temporary waiver was prompted by executive orders from President Trump.

The correspondent lender has removed certain overlays on streamlined refinance programs at FHA and VA. Newrez, meanwhile, added some overlays.

According to researchers at the Urban Institute, refi programs at FHA and VA are detrimental to both borrowers and investors.

FHA extends foreclosure moratorium tied to LA wildfires; HUD rescinds Affirmatively Furthering Fair Housing rule; CSBS seeks Ginnie servicing reforms; RHS delays servicing changes; Rate offers complimentary, temporary insurance for first responders; bill in Senate would speed mortgage processing at Bureau of Indian Affairs.

The Senate voted 55-44 to confirm Scott Turner as housing secretary, paving the way for the Trump administration to install new leadership at FHA and Ginnie Mae.

The Trump administration is expected to put an early focus on reducing regulation and improving efficiency at federal housing agencies.

The pause was ultimately rescinded following court injunctions. In the meantime, participants in government-insured mortgage programs faced uncertainty.

VA is considering a rule that would require lenders to use a new application program interface to report loan information and remit funding fees to the agency. It also plans to rewrite rules regarding when VA would assert a defense for a partial or total loss of a guarantee.

The changes were set to take effect Feb. 5. Instead, HUD instituted a 90-day delay to review the final rule developed by the Biden administration.