Fueled by low rates, demand for FHA and VA refis was strong in the second quarter, although purchase loan originations for both programs hit the ceiling as well.

HUD and Ginnie Mae, in a joint policy action, announced changes to the eligibility criteria for cash-out refis to reduce lender risk, preserve homeowner equity and boost investor confidence.

Industry participants have mixed views on how letting the QM patch expire as scheduled under the ability-to-repay/qualified mortgage rule would affect FHA business overall.

Independent mortgage bankers have asked FHA to remove delinquent natural disaster loans in forbearance from the Neighborhood Watch database to ease investor concern over FHA lender performance.

Users regained access to the agency’s Loan Review System after it was temporarily shut down for four days last month due to server errors. Efforts to fix the problem resulted in loss of data and documents.

The New York State attorney general has filed a brief in bankruptcy court opposing Ditech’s plan to sell its reverse mortgage business.

Legislation has been introduced in the House and Senate to help prevent FHA foreclosures by increasing oversight of mortgage servicers to ensure they are complying with loss-mitigation requirements.

The Social Security Administration has closed the enrollment period for financial institutions to participate in a new fee-based, automated program to verify individuals’ Social Security numbers for lending purposes.

A U.S. court dismissed nearly all claims against U.S. Bank in an RMBS case. Meanwhile, Nomura has agreed to a $25 million settlement.

Approximately $600 million of refinance loans with a VA guarantee were left stranded on lenders’ balance sheets due to a conflict in Ginnie seasoning requirements that were ushered in with passage of the Dodd-Frank reform act...