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Inside FHA/VA Lending

April 22, 2011

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Ginnie Tightens Requirements as Volume Falls

Ginnie Mae tightened several regulations relating to its mortgage-backed securities program over the last month as its MBS issuance hit a two-year low in early 2011. Ginnie All Participants Memo 11-04 changed rules that had allowed servicers to include delinquent loans into Ginnie pools. The memo told...[Includes one data chart] Read More

HUD Monitoring Lender Use of Its Logos

The Department of Housing and Urban Development clearly spelled out that lenders must be discrete in their use of the FHA “Approved Lending Institution” insignia and defined other specific regulations relating to logo use in a letter to lenders this week. Improper use of HUD or FHA logos can result... Read More

Is FHA Lender Crackdown Working?

As the FHA’s capital reserve level dwindled in 2009 and the program’s share of the mortgage market gradually rose, Department of Housing and Urban Development officials repeatedly stated that ridding the program of bad lenders was...[Includes one graph] Read More

Private MIs Looking to Continue Comeback

Private mortgage insurers have been slowly staging a comeback, taking market share from the FHA over the past year. With the annual premium on FHA loans increasing Monday, several private MIs look to be turning up the heat. As of early this week, FHA mortgages with loan-to-value ratios at or below 95 percent will carry... Read More

House Dems Ask for HECM Program Changes

On the heels of an AARP lawsuit against the Department of Housing and Urban Development relating to recent rule changes to the FHA’s reverse mortgage program, two House Democrats asked the agency to revisit its policies on borrowers’ surviving spouses. Longstanding HUD rules dating back to 1989 say... Read More

OIG Sees Problems in Early FHA-HAMP Processes

The Department of Housing and Urban Development complied with all rules and regulations in implementing the FHA’s version of the Home Affordable Modification Program but could have improved in certain early stages in the life of an FHA-HAMP loan, according to a recent report from HUD’s Office of the Inspector General. The FHA-HAMP combines... Read More

FHA Delinquency Uneven, Portfolio Grows

The rate of delinquent FHA loans has yo-yoed up over the past year as the program tries to improve underwriting and FHA servicers’ portfolios continue to grow. The Neighborhood Watch database, which counts loans in any stage of delinquency, shows...[Includes one data chart] Read More

Small Banks to Get FHA Audit Waiver

FHA lenders with less than $500 million in assets will not have to comply with FHA rules requiring audited fiscal statements each year, a Department of Housing and Urban Development spokesman told Inside FHA Lending this week. The waiver, which will be implemented... Read More

HUD Selects 18 Lenders for PowerSaver Program

The Department of Housing and Urban Development selected 18 lenders to participate in the two-year pilot program that will offer certain qualified borrowers low-cost loans to make energy-saving improvements to their homes. Homeowners can use... Read More

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