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Inside FHA/VA Lending

November 30, 2018

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FHA Forward Volume Down Sharply, Weak Purchase Business Fuels Fall

FHA forward mortgage production plunged in the third quarter, precipitated by a substantial drop in purchase activity. [Includes two data charts.] Read More

VA Plans Cash-Out Refi Rulemaking to Prevent Predatory Practices

The Department of Veterans Affairs this week laid the groundwork for changes to its current rules on VA-guaranteed cash-out refinance loans. Read More

Reduced Volume Trend Continues as HECM YoY Production Drops

Home Equity Conversion Mortgage originations saw a modest 4.7 percent sequential fall in the third quarter as the downward volume trend for reverse mortgages continued. [Includes one data chart.] Read More

MMIF Audit Report Suggests FHA May Consider Shrinking Footprint

In an analysis of FHA’s fiscal 2018 audit of the Mutual Mortgage Insurance Fund, analysts believe the Department of Housing and Urban Development may be inclined to shrink FHA’s footprint modestly given the risk profile of its new business. Read More

Investors Find Quicker Alternative to Nonperforming, REO Loan Sales

The Department of Housing and Urban Development has not conducted a single nonperforming loan sale in 2018 because apparently investors have found a quicker way to obtain newly foreclosed properties. Read More

Industry Groups Push for Full Senate Vote on Bright Nomination

A coalition of industry groups strongly urged Senate leadership to bring up Michael Bright’s nomination for president of Ginnie Mae for a vote in the full Senate. Read More

RHS Clarifies Short Sale Rules, REO Purchases by Nonprofits

The U.S. Department of Agriculture’s Rural Housing Service has issued guidance regarding short sales and sale of real estate-owned properties backed by rural housing loans. Read More

FHA Updates EAD System, Other Appraisal-Related Components

The FHA has announced plans to improve the web-based system lenders use to submit appraisal reports to the agency. Read More

Around the Industry

Congress approves flood insurance extension, FHFA announces 2019 conforming loan limits, and the VA offers password-reset guidance for servicers. Read More

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