From fiscal 2010-2016, FHA sold roughly 111,000 troubled loans to private investors, including nonprofits, through DASP. In addition, GAO found that FHA did not routinely assess outcomes…
In addition, the new rules would establish an allowable range for commercial space between 25% and 60%, which would make it less cumbersome for mixed-use communities to obtain FHA approval.
Approximately $600 million of refinance loans with a VA guarantee were left stranded on lenders’ balance sheets due to a conflict in Ginnie seasoning requirements that were ushered in with passage of the Dodd-Frank reform act...
According to new figures released by Black Knight, mortgage prepayments declined by 7.5% in June despite mortgage rates being under the 4.0% threshold. The data analytics firm said it was the first decline in prepays in five months. Go figure…
The figures are not adjusted for seasonal factors, and FHA/VA default rates often trend lower in the first quarter. FHA home equity conversion mortgages are not included in the data.
The biggest chunk of the insured market was loans with private MI coverage: $78.32 billion in the second quarter, a 49.3% increase from the previous period. That broadened the private MI footprint to 42.0% of the insured agency market, up from its relatively low 41.7% share in the first quarter.
Florida, Texas, Virginia and Georgia were all relatively MI-rich, with insured loans accounting for more than 60.0% of total agency business in those states.
Once effective, the requirements of the HECM law are significant, according to Allison Schoenthal, an attorney and partner in the New York office of Hogan Lovells...
If you’re wondering why the deal is taking so long, it’s because COH is a foreign entity and there are certain regulatory hoops to jump through. When originally announced, the sale was valued at $2.7 billion – all cash…
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