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Inside FHA/VA Lending

October 16, 2020

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Ginnie Market Surging in 3Q20 But FHA Sector Lags

Nonbanks continued to broaden their footprint in the Ginnie market even though top players like Quicken, United Shore, Mr. Cooper and AmeriHome recorded declining sales in the third quarter. (Includes four data charts.) Read More

Top FHA Lender Freedom Likely to Stay Private

Public ownership isn’t for everyone. Just ask FHA-direct giant Freedom Mortgage of Mt. Laurel, NJ. Read More

Wells Fargo Makes Big Bet on Ginnie EBOs. Others?

Thanks to high forbearance readings and escalating delinquencies, Wells Fargo is once again playing the Ginnie buyout game. It’s not alone. Read More

Many Borrowers Not Seeking Forbearance Extension

Nearly two-thirds of borrowers who exited forbearance remain current on their payments and have been able to resume pre-pandemic monthly payments, according to the MBA. Read More

Dems Question Lack of Restitution in VA Settlements

Senate Democrats have accused the CFPB of departing from well-established procedure and legal standards of restitution in recent enforcement actions against lenders over false advertising to veterans. Read More

Essent Group Completes $399 Million ILN Offering

In recent months, three private mortgage insurers have completed insurance-linked note transactions, totaling over $1 billion. Read More

HUD OIG Says Carson Didn’t Use Agency to Help Son

According to HUD’s internal watchdog, Benjamin Carson Jr.’s emails and business records show that he did not secure a direct financial benefit in his involvement with a HUD listening tour. Read More

Servicers’ Forbearance Information Still Misleading

Most servicers have updated relief-related information on their websites since HUD OIG’s April report. However, problems still persist. Read More

Banks Pledge to Invest into Minority Homeownership

JPMorgan Chase, Citi and Bank of America have committed funds to spur economic opportunities in underserved communities. Read More

Around the Industry

Hurricane damage in Texas and Louisiana; new submission method for FHA reacquisition claims; FHA temporarily waives “interior” photographs for properties in presidentially declared major disaster areas. Read More

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