Congress withdrew a provision in the Blue Water Navy Vietnam Veterans Act that would have raised the guarantee fee on VA home loans. Instead, it approved the removal of the cap on VA mortgages.
The agency has lifted a suspension of loanDepot from its multi-issuer securities program, noting the nonbank’s prepayment speeds on VA loans have normalized and are strictly being monitored.
HECM endorsement volume rose in the first quarter of 2019 after three quarters of declining originations. FHA attributed the increase to the partial government shutdown that lasted 35 days, delaying HECM endorsements for part of the first quarter.
The Structured Finance Industry Group is backing an FHA proposal to revise its annual loan-level certifications and defect taxonomy and a Ginnie Mae proposal on high-risk cash-out refinance loans and erratic prepayment speeds.
Ginnie Mae's request for comment on proposed changes to pooling requirements for higher-risk VA cash-out refinance loans is generating mixed views from stakeholders.
Entities are prohibited by the Internal Revenue Service from using their own employer identification number to request additional EINs required for Ginnie Mae custom pools.
Reports from the Congressional Budget Office and the Urban Institute analyze various ways to lower the government’s cost of running and maintaining the Home Equity Mortgage Program for cash-strapped, equity-rich seniors.
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