FHA releases draft guidance on employment requirements for direct endorsement underwriters; OIG outlines top HUD management challenges; MISMO plans reverse mortgage data standards; and HUD announces latest appointments to Housing Counseling Federal Advisory Board.
A broad cross-section of the industry supports legislation that would reinstate, make permanent and expand eligibility for the mortgage insurance premium tax deduction.
Karan Kaul, a senior policy advisor at Ginnie Mae, said Ginnie and others need to analyze the various reform proposals that have been released in recent years.
Government agencies, philanthropic organizations and the housing finance community must work together to create funding sources for home repair programs to help sustain affordable homeownership, according to the Joint Center for Housing Studies at Harvard University.
“If we had a major economic downturn, I don’t know what kind of havoc we would have right now, because there’s no stability,” said Ted Tozer, a former president of Ginnie Mae.
Ginnie Mae must firm up plans to boost nonbank issuer liquidity for times of stress and set policies for transferring MSR in the event a large servicer exits the market, speakers said at a summit this week.
Ginnie Mae Acting President Sam Valverde believes long-term commitment of resources could allow the agency to do more to address nonbank liquidity challenges.