The Mortgage Bankers Association and the Housing Policy Council want the VA to carefully consider the specifics of a new loss-mitigation program, the VA Servicing Purchase program, it plans to unveil this summer.

Loan holders or their authorized servicing agents with automatic authority must decide on a completed loan assumption application within 45 calendar days of receipt, VA said in new guidance.

Members of the House Financial Services Committee are seeking clarification related to the treatment of delinquent loan buyouts from Ginnie Mae pools in the new Community Reinvestment Act proposal.

The changes would improve FHA’s ability to make prompt payments in instances when a HECM lender defaults on its borrower obligations.

Ginnie Mae announces implementation timeline for new single-family pool delivery; Ginnie signs memo with USDA on social metrics data sharing for ESG disclosures; HUD OIG issues semiannual report.

Ginnie President Alanna McCargo is confident nonbanks will be able to meet pending capital requirements.

The need for Ginnie Mae nonbank issuers to have ongoing access to capital is key to their success, and that informs the agency’s approach to policy and risk management, said Ginnie President Alanna McCargo. 

Borrowers could use interest-free partial claim funds to repay shortfalls on an FHA mortgage to bring it current and then receive a reduced monthly payment for three to five years.

The Senate must now vote on the bill which would lift the federal debt limit until January 2025.

Ginnie is expanding a working partnership with the Federal Home Loan Bank of Chicago.