High churn rates in the VA program lead to higher interest rates for FHA borrowers because loans from the two programs are pooled together in Ginnie Mae MBS. But there’s not a clear path to separate them.

The Department of Housing and Urban Development wants to know whether any statutory changes could improve the programs. Meanwhile, there is no update on the HMBS 2.0 product proposed last year.

The bill would stop FHA from collecting mortgage insurance premiums once a borrower’s loan-to-value ratio declines to 78%.

LGY updates accepted reservist documentation; HUD reduces multifamily mortgage insurance premiums; USDA posts shutdown banner; USDA encourages multifamily projects to watch costs.

FHA and VA mortgages tend to have sharply different prepayment rates but they're put together in Ginnie MBS, potentially penalizing FHA borrowers.

The faster prepayment rates on VA loans skew the churn rate of Ginnie Mae multiple-issuer pools, but separating VA loans into their own pools could throw a wrench in the Ginnie MBS market.

The effects of the partial government shutdown could be far-reaching, but agency functions related to mortgage lending appear intact.

The whistleblowers raised concerns about the administration’s efforts to limit HUD’s ability to enforce fair housing and civil rights laws.

Some lending operations will continue as usual, though authority to write new policies under the NFIP expired.

Manufactured housing supply might be due to increase if the Trump administration enacts certain reforms, potentially opening a broadly untapped market for mortgage lenders.