McDonough will head the second largest federal agency, with more than 400,000 employees and a $200 billion budget.

Mike Fratantoni, MBA chief economist, said the job market data continue to indicate that homeowners are experiencing severe hardships due to the pandemic.

In its ninth and largest action since July against false marketing practices targeting veterans, the bureau fined Low VA Rates $1.8 million.

The Bureau of Indian Affairs is requiring mortgage amounts to be redacted, creating a problem for government mortgage lending.

Public ownership isn’t for everyone. Just ask FHA-direct giant Freedom Mortgage of Mt. Laurel, NJ.

Thanks to high forbearance readings and escalating delinquencies, Wells Fargo is once again playing the Ginnie buyout game. It’s not alone.

The number of loans in Ginnie MBS that had COVID forbearance fell 6% from July to August, although a growing share of the loans fell into the seriously delinquent category. (Includes two data charts.)

Recently proposed legislation would raise the IRRRL fee from 50 basis points to 85 bps. Lenders are not happy.

Deferment can only be used as a loss-mitigation option if a vet is able to resume making monthly payments as scheduled under the contract.

ClearPath Lending has been slapped with a $625,000 fine for deceptive advertising to veterans, bringing the total amount of fines issued by the CFPB to more than $3 million since July.