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Home » Authors » George Brooks

Articles by George Brooks

An Upbeat Projection for the Pending FHA MMIF Actuarial Audit

November 7, 2019
George Brooks

Consultant Brian Chappelle credits FHA for taking action earlier in the year to stop risk layering on borrowers with lower credit scores.


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Projection Upbeat on FHA’s FY 2019 MMIF Actuarial Audit

November 7, 2019
George Brooks
A positive third-quarter report sent by HUD to Congress indicates a more optimistic fiscal 2019 actuarial report on the state of the FHA Mutual Mortgage Insurance Fund, according to a stakeholder analysis.
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Consolidation and Competition Reduces the Number of LOS Vendors

November 6, 2019
George Brooks

The decrease in LOS vendors comes courtesy of industry consolidation from M&A deals, fewer vendor offerings of multi-system platforms and the failure by some platforms to adapt...


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HUD Seeks Comment on Proposed Loan Level Certifications

November 5, 2019
George Brooks

HUD’s addendum to the Uniform Residential Loan Application form is being revised to reflect regulations, ensure accuracy of borrower information, reduce lender uncertainty and maintain FHA’s ability to enforce program requirements.


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A Shrinking Number of Loan Origination Systems

November 1, 2019
George Brooks
The number of loan origination systems used by mortgage lenders has declined from 33 to 21 in the last four years, a Stratmor study finds.
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FCA Memo Stirs Optimism, But Banks’ Concerns Remain

October 31, 2019
George Brooks
A memo setting new rules for the use of the False Claims Act in addressing FHA loan defaults has found favor among industry stakeholders. However, there is still some concern regarding DOJ’s role.
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Ginnie Mae Seeks Feedback on Digital Collateral Guidance

October 31, 2019
George Brooks
The agency is seeking comment on an initial draft policy guidance for accepting digitized mortgages and loan packages as underlying collateral for Ginnie MBS.
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HUD Seeks Comment on Proposed Loan-Level Certifications

October 31, 2019
George Brooks
HUD is seeking feedback on proposed revisions to loan-level certifications, which would reflect FHA’s statutory and regulatory requirements.
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Lower-Tier Issuers, Servicers on Ginnie Stress Testing List

October 25, 2019
George Brooks
Ginnie Mae is now targeting mid-tier issuers and servicers for stress testing to gauge their financial strength and ability to weather adverse economic conditions.
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VA Moving Quickly to Address Noncompliant Refinance Loans

October 25, 2019
George Brooks
Continuing with its efforts to curb serial refinancing, VA is set to tell certain lenders that their recent refinances may be ineligible for a guarantee, accord-ing to industry sources.
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