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.

Nonbank issuers participating in Ginnie Mae MBS now have until the end of 2024 to comply with new risk-based capital requirements.

Industry analysts continue to assess Ginnie Mae’s new nonbank issuer eligibility requirements and what impact they might have on the mortgage market.

The guidance is aimed at helping issuers understand how the new risk-based capital ratio requirements apply to mortgage servicing rights, among other issues.

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.

The House Committee on Veterans Affairs has marked up 18 bills to support veterans, among them one would improve the appraisal process under the VA home loan program.

American Financial Network has agreed to pay roughly $1 million to settle allegations it fraudulently originated FHA loans.

A recently introduced bill, the Improving Access to the VA Home Loan Act, would direct VA to update regulations on home appraisals.

Seeking to further advance the Biden’s administration housing agenda, the White House’s proposed budget allocation includes $11.6 billion more for HUD in fiscal year 2023.

FHA will ensure appraisers have clear guidance on their antidiscrimination obligations under current laws, improve the processes for homeowners to seek revaluation and expand data sharing among agencies, among other plans.