The volume of FHA and VA originations continued to fall in the first three months of the year, marking the eighth straight quarter-over-quarter decline. (Includes three data charts.)

FHA lending is concentrated on borrowers with loan-to-value ratios greater than 95%, while private MI activity is focused on borrowers with LTV ratios between 85% and 95%, according to an analysis by Inside FHA/VA Lending of agency mortgage-backed securities disclosures.

A revised version of the Homes for Every Local Protector Educator and Responder Act was introduced in Congress last week. The bill would offer downpayment assistance through the FHA loan program for many teachers and first responders.

Under the modified policy, FHA decreased the minimum loan balance threshold at which a mortgagee can submit the assignment request for a home equity conversion mortgage.

Condos can be an important source of affordable homeownership, according to the Department of Housing and Urban Development.

The Department of Housing and Urban Development didn’t ensure lenders consistently followed temporary forbearance policy requirements or ensure that indemnification agreement data and related records were complete and accurate, according to the HUD Office of Inspector General.

The first eight-hour NAMB Certified FHA Mortgage Professional course aimed at brokers will be offered in person in July.

VA updates lenders on refund modification program; Ginnie appoints two senior advisors; HUD extends comment deadline on floodplain management; FEMA seeks technical mapping advisory council applicants; HUD and USDA seek comments on updated energy efficiency codes.

If the U.S. defaults on its debts, Ginnie could still guarantee MBS and investors would still receive proceeds from the securities.

In a recent trip to Asia, Ginnie officials assured investors that the structure of Ginnie MBS will help to protect them from any potential issues tied to a possible U.S. debt default.