FHA is dedicating resources to servicing oversight and enforcement in the COVID and post-COVID era. In sum, servicers should expect lending monitoring exams to be scheduled in the coming months.

Back in 2015, the mix was reversed: FHA accounted for 60% of the FHA/VA market.

HUD Secretary Marcia Fudge was nominated in December and took her oath in early March, but there has yet to be a peep out of Pennsylvania Avenue regarding the FHA commissioner job and who will lead Ginnie Mae.

Although total conventional-conforming production was up, the top four lenders in the market all reported slowing volume.

The FHA program remains a go-to choice for first-time homebuyers...

Late payment rates peaked in June at 11.82% as borrowers struggled with the impact of the pandemic on economic activity.

The upfront MIP is 175 bps of the base loan amount on a 30-year fixed-rate FHA single-family loan. Most FHA borrowers pay an annual MIP of 85 bps for the full life of the loan.

Servicers also repurchased $20.22 billion of delinquent loans from Ginnie MBS in the first quarter, or 9.3% of total removals.

HUD Secretary Marcia Fudge: "The lift is heavy. Black homeownership is less than it was when the Fair Housing Act was passed in 1968 and the percentage of minorities who own homes is a disgrace to the nation.”

A thaw is in the air when it comes to auctioning off Ginnie Mae servicing rights...