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Inside FHA/VA Lending

February 15, 2019

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Weak 4Q Purchase Lending Shrinks FHA/VA Output

Government-backed originations fell significantly in the fourth quarter of 2018 due to a decline in purchase lending even as year-over-year results reflected the uncertainty in last year’s government-backed mortgage market. [Includes three data charts.] Read More

Industry Seeks Delay of VA Cash-Out Interim Final Rule

Industry representatives are urging the Department of Veterans Affairs to delay an interim final rule on VA cash-out refinance loans for fear that lenders may stop offering the product. Read More

SIFMA Proposes Changes to VA Cash-Out Interim Rule

A Wall Street lobbying group has urged the Department of Veteran Affairs to change its cash-out refinance interim final rule, calling par-ticular attention to the net tangible benefit provision. Read More

Congress Mulls Raising VA Fees to Expand Healthcare

Congress is reportedly considering a legislative proposal to charge higher guarantee fees for VA mortgages to cover healthcare costs of Korean and Vietnam War veterans who were ex-posed to herbicides, such as Agent Orange and other toxic agents. Read More

HECM Originations Decline Due to Shutdown, Slowdown

Home Equity Conversion Mortgage originations declined in December-January due in part to the recent government shutdown and an overall slowdown in HECM activity, according to an analysis by Situs, Inc. Read More

SunTrust-BB&T Announce Merger; Ditech Files Ch. 11

The merger of SunTrust Banks and BB&T Corp. will create a new entity that would have ranked among the top 20 Ginnie Mae issuers and servicers in 2018. Read More

Approval of Ginnie MBS Issuers Dwindles in 2018

Ginnie Mae approved far fewer issuers last year than in 2017, according to agency data. Only eight out of 28 applicants were approved to participate in its mortgage-backed securities program, as against 22 issuers in the previous year. Read More

Wells Fargo, Sierra Agree to Resolve FHA-Related Claims

The U.S. District Court for the Northern District of California has approved a class-action settlement between borrowers and a large bank to resolve allegations of illegal and unfair collection of post-payment interest on FHA-insured mortgages. Read More

Around the Industry

GDP Projection for 1Q19 Down by $8 Billion Due to Shutdown. Read More

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