FHA updates EDI layout; HUD changes Section 184 residency requirements; FHA and VA application shares rise.

The commercial real estate firm issued its first public securitization of billboard property rights — a rarity in the ABS market.

Borrower payoffs accounted for 81% of removals in the quarter, indicating heavy refi activity.

Among the top 20 FHA/VA producers in 2Q25, not one was a federally insured depository.

Government-insured lending increased by 17.3% during the second quarter, lifted by purchase mortgages. (Includes three data tables.)

John Bell stepped down as executive director of the Department of Veterans Affairs LGY office. He was replaced by a longtime VA employee, Patrick Zondervan.

Loan removals from Ginnie Mae mortgage-backed securities increased by 29.3% during the second quarter of 2025, largely due to borrower payoffs, which are typically refinances. (Includes two data tables.)

The policy change could make it difficult for speakers of other languages to access HUD services.

Julia Gordon, in her final days as commissioner, granted low-income credit unions a waiver from meeting FHA’s net worth requirements for lenders. The action was only recently formally disclosed.

Applications for government-backed loans mid-August were above the levels seen in 2024.