Chairs of the Senate Veterans Affairs Committee and the Senate Committee on Banking, Housing and Urban Affairs lose re-election bids; HUD announces sale of residential loans on non-vacant properties; FHA issues standards for flood risk management tied to minimum property standards; FHA appraisal data added to Uniform Appraisal Dataset.
Age and mobility account for 73% of the homeownership gap between active-duty servicemembers and the nonmilitary population, according to a recent report from the Urban Institute’s Housing Finance Policy Center.
Correspondent sales of government-insured mortgages originated during 2023 declined somewhat on an annual basis, but Veterans United upped its sales by 7.3%. (Includes data table.)
Total issuance of Ginnie Mae mortgage-backed securities declined slightly during the first quarter of this year. Still, volume was up sharply from the first three months of 2023. (Includes four data tables.)
The Community Home Lenders of America worries changes in home sale commission practices could make it more difficult for veterans to purchase homes using their VA home loan benefits.
VA processed 2,244 loan assumptions in 2023, compared with just 308 in the previous year. Under a VA loan assumption, a buyer takes over the seller’s mortgage at its existing terms.
Congressional lawmakers next week are expected to take up legislation meant to finalize fiscal 2024 funding bills before the latest continuing resolutions lapse.
Endorsements of FHA and VA insured loans increased by 9.2% in the third quarter while total first-lien originations declined. (Includes three data tables.)
Some $30.43 billion in Ginnie Mae mortgage-backed securities was issued last month. FHA volume held up better than VA activity. (Includes two data tables.)
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