The U.S. Mortgage Insurers argued the FHA Mutual Mortgage Insurance Fund is vulnerable to a severe economic downturn, and suggested it be held to the same standards as the government-sponsored enterprises.
A lawmaker hinted recently that there’s consideration of moving the U.S. Department of Agriculture’s Rural Housing Service under the Department of Housing and Urban Development’s control, but any move appears to be at a conceptual stage.
FHA waived a policy that required lenders to provide notices to borrowers about various protections, a move the agency said would lighten some of the burden on lenders.
Issuers produced $47.87 billion of new Ginnie Mae single-family MBS in October, the highest monthly volume so far this year. Refis accounted for 31.9% of the new issuance. (Includes two data tables.)
As delinquencies and foreclosures rise, more homeowners using FHA- and Department of Veterans Affairs-backed mortgage loans hold negative equity positions.
The Department of Housing and Urban Development pushed back the compliance date for updated energy standards to 2026 while it reviews industry feedback.
The Bank of Glen Burnie, a Maryland-based lender, expects to substantially grow its residential mortgage business through its recent acquisition of brokerage VA Wholesale Mortgage.
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