FHA endorsements in the fourth quarter of 2019 were the highest in years. Most of the increase was in the refinancing business led by the lower interest rate environment. Read More
VA originations set a new record in the fourth quarter despite a slump in purchase lending. Nonetheless, purchase mortgages accounted for a large share of total VA business in 2019. Read More
President Trump confirmed industry rumors by announcing his intent to nominate Dana Wade as FHA commissioner and assistant secretary for housing. Read More
The Justice Department sees no need to issue additional guidance on defective FHA loans. The agency believes the actions undertaken so far will encourage depository institutions’ participation in the FHA program. Read More
HUD sought no changes in its funding request for FHA and Ginnie but has called for legislative reforms, and will seek them through the authorization, rather than the appropriations, process. Read More
Community mortgage lenders are asking FHA to drop its life-of-loan premium policy that requires borrowers to pay annual mortgage insurance premium until their loan is fully paid. Read More
Thousands of rural multifamily rehabilitation loans have become ineligible for a Ginnie guarantee due to USDA’s reformed interpretation of its subordinate-lien policy. Read More
HUD inspector general was unable to sign off on HUD’s and Ginnie Mae’s 2019 financial statements due to a lack of evidence that past accounting weaknesses and issues have been satisfactorily resolved. Read More