FHA policies on reporting of loan mods and for filing partial claims under HAMP were void of deadlines, the HUD-IG told Congress.

Meanwhile, delinquency rates are noticeably rising, according to Black Knight.

Lenders are now starting to ease minimum FICO requirements for VA mortgages.

In a bid to make credit more accessible to minorities, HUD is considering alternative, non-traditional credit scoring methods.

The overall forbearance rate is levelling off but loans packaged into non-agency MBS and those held in portfolio showed a relief-request reading of 10.18%, up 15 basis points.

Servicers have amped up their hiring and embraced virtual assistance, lowering average hold time to 1.8 minutes.

HUD Secretary Ben Carson told lawmakers he will cooperate with an inquiry into whether a new policy prevents DACA recipients from receiving federally backed mortgage loans.

Industry wants FHA to guarantee loans but not charge lenders for loans in progress where COVID-19 forbearance has been invoked.

The VA lender believes a low credit score doesn’t mean a borrower is high risk. The firm plans to fund over $2 billion in VA loans in 2Q.