The VA is adding a step to its appraisal bias detection procedures. Meanwhile, the National Association of Realtors told the agency not to rush its appraisal modernization efforts.
Looser pooling requirements for delivering reperforming loans to Ginnie; FHA revises policy handbook; FHA updates instructions for use of GSE model forms; FHA hiring; VA revises various forms; VA offers loan review API; CHLA calls for permanent PTAP; RHS proposes loosening loss-mitigation standards.
Proposed updates to rules governing VA interest rate reduction refinance loans drew asks from VA lenders and trade groups around loosening eligibility requirements for borrowers to maintain access to the product. (Includes data chart.)
A proposal to streamline servicing and claim requirements for FHA mortgages is in the works, along with expanded loss-mitigation options for VA servicers. VA also plans to issue a final rule on cash-out refis.
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.
A VA Native American Direct Loan offers the same benefits as one from the VA home loan guaranty program but with no private lender in the middle, said John Bell of the VA Loan Guaranty Service.
Following a boom in buyout activity of FHA and VA loans from Ginnie Mae pools in the first 18 months of the COVID-19 pandemic, loan removals continue to decline. (Includes data chart.)
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.
Officials from FHA, VA and USDA’s Rural Housing Service recently discussed how to help borrowers through the challenges of today’s volatile housing market.
RSS