Refinance mortgages, especially streamlined refis, came roaring back, lifting 2024 VA lending volume by a sharp 28.5%. FHA volume is estimated to have risen 14.3%. (Includes two data tables.)
Some $202.78 billion of loans were removed from Ginnie Mae MBS last year, with about 88% of them representing borrower payoffs. (Includes two data tables.)
The pause was ultimately rescinded following court injunctions. In the meantime, participants in government-insured mortgage programs faced uncertainty.
VA is considering a rule that would require lenders to use a new application program interface to report loan information and remit funding fees to the agency. It also plans to rewrite rules regarding when VA would assert a defense for a partial or total loss of a guarantee.
VA sets return-to-office requirements for employees; Indecomm adds FHA underwriting; RHS interest rates increase; number of downpayment assistance programs grows.
VA origination fees will stay at elevated levels through mid-2034 rather than coming down near the end of 2031. The extension was prompted by a bill that passed Congress with broad bipartisan support.
Among a large group of FHA/VA lenders, the broker channel accounted for 24.8% of government-insured originations in the third quarter. UWM and PennyMac sharply increased their broker volume in the quarter. (Includes data table.)
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