FHA has published new implementation requirements for condominium units secured by Home Equity Conversion Mortgage loans. The guidance also ap-plies to condo units that qualify for HECM spot-financing.

The department has recommended a scorecard to ensure FHA borrowers re-ceive financing that is appropriate and sustainable for long-term homeowner-ship. Meanwhile, the Treasury has outlined the new role Fannie Mae and Freddie Mac would play in a revamped housing-finance system.

Reverse mortgage lenders saw modest growth in the second quarter with a mere 3.0% increase in HECM originations. The trend in the sector remains weak, with production at the mid-year mark down 33.7% from a year ago.

As Florida braces for Hurricane Dorian, FHA announced expanded loss mitigation options for homeowners located in presidentially declared major disaster areas.

The volume of broker-originated FHA and VA refinance loans pooled in new Ginnie MBS jumped 94.1% from the first to the second quarter. Correspondent production saw the smallest gains among the three channels.

FHA may have sold ineligible delinquent loans to private investors in fiscal 2016 due to misclassification, according to a recent GAO report.

HUD is asking stakeholders to comment on proposed changes to FHA’s annual lender certification.

HUD and Ginnie Mae, in a joint policy action, announced changes to the eligibility criteria for cash-out refis to reduce lender risk, preserve homeowner equity and boost investor confidence.

Industry participants have mixed views on how letting the QM patch expire as scheduled under the ability-to-repay/qualified mortgage rule would affect FHA business overall.