HECM endorsement volume rose in the first quarter of 2019 after three quarters of declining originations. FHA attributed the increase to the partial government shutdown that lasted 35 days, delaying HECM endorsements for part of the first quarter.

In a flurry of legislative activity, House committees passed several mortgage-related measures over the past few weeks while in the Senate, lawmakers are considering legislation that would restore eligibility of VA "orphan" loans for a Ginnie Mae guarantee.

The Structured Finance Industry Group is backing an FHA proposal to revise its annual loan-level certifications and defect taxonomy and a Ginnie Mae proposal on high-risk cash-out refinance loans and erratic prepayment speeds.

In a similar move, FHA is developing a modern, single-technology platform suitable to the emerging digital and paperless mortgage environment. The system will provide lenders with a single port to conduct business from applications to claims, including the ability to track requests throughout the life cycle of the loan, said FHA Commissioner Brian Montgomery.

A review by the VA inspector general found thousands of veterans with disabilities, even though exempt, may have been charged funding fees on their home loans.

Bipartisan legislation addressing the appraiser shortage is under consideration in the Senate while legislation reauthorizing the National Flood Insurance Program for five years was introduced in the House. The House Appropriations Committee also has approved the fiscal 2020 HUD spending bill.