FHA Commissioner-nominee Matt Jones said the agency’s 203(k) loan program is an underutilized means to revitalize some of the country’s aging housing stock.
The U.S. Court of Appeals for the Fifth Circuit upheld a ruling by a Texas district court, determining that Ginnie Mae had the authority to seize Texas Capital Bank’s interest in the tails on home equity conversion mortgages once serviced by Reverse Mortgage Funding.
Issuance of government-backed loans to Ginnie Mae mortgage-backed securities fell in the third quarter, breaking with the typical seasonal pattern amid higher interest rates. (Includes four data tables.)
Sen. Elizabeth Warren, D-MA, ranking member of the Senate Banking Committee, had little to say to FHA Commissioner-nominee Matt Jones aside from a remark that he would have a “tough job” amid the financial conditions borne of the Trump administration’s policies.
FHA announced it was taking the next step in implementing updated appraisal forms the day after Fannie Mae and Freddie Mac announced they’d push back their mandatory implementation date by more than six months.
The lawsuit challenges HUD’s refusal to award funding that Congress set aside for housing counseling nationwide, which is necessary for the origination of home equity conversion mortgages.
Industry trade groups want government mortgage programs to align their reconsideration of value processes with those of the government-sponsored enterprises.
The U.S. District Court for the Northern District of California issued an administrative stay that will stall the U.S. Department of Agriculture’s intended relocation of some Rural Housing Service staff for at least another week.