Industry groups urged FHA to make the proposed alternative partial claim structure friendlier for smaller lenders and called for communication with Ginnie Mae investors.
Issuance to Ginnie Mae custom extended-term pools spiked twice in the last year, after FHA and VA changed their loss-mitigation policies. Delinquency rates on the pools are also exceptionally high.
Endorsements of FHA-insured home equity conversion mortgages picked up in the second quarter, but not enough to combat the slide year-over-year. (Includes three data tables.)
FHA might hand the industry an item on its wish list, according to a proposal that floated adopting the property condition and quality rating scales used by the government-sponsored enterprises.
Jones nominated for FHA commissioner; odds low for FHA mortgage insurance premium cut; FHA terminates DE for some lenders; HUD plans HECM sale; fee hike planned for Section 184 program.
Refinance volume included in Ginnie Mae mortgage-backed securities slipped for the fourth consecutive month in August as interest rates climbed higher. (Includes two data tables.)
Industry groups urged FHA to flesh out and update the disclosures for VA mortgages that will be added to FHA mortgage applications as a result of Congress’ new housing law.