VA deliveries into Ginnie MBS increased a stunning 44.5% in 2019. The share of refis in total VA securitization saw a sharp increase too. (Includes data chart.)
VA originations set a new record in the fourth quarter despite a slump in purchase lending. Nonetheless, purchase mortgages accounted for a large share of total VA business in 2019.
In 2020, FHA is poised to take a significant chunk of high-risk business as Fannie and Freddie continue to draw back from the over-95% LTV market. VA is expected to continue its slow-growth trajectory.
The Office of General Counsel's opinion clarifies the circumstances under which it would reimburse exempt veterans who were improperly charged a funding fee.
Implementing a provision in the Blue Water Navy Vietnam Veterans Act, the guidance would allow a VA fee-panel appraiser to provide property valuation based solely on information provided by an entity with which it has a service agreement.
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