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Inside FHA/VA Lending

July 2, 2021

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FHA/VA Lending: TPO Production Slumps in 1Q21

Freedom Mortgage upped its FHA/VA production thanks to big gains in retail and correspondent activity, and even claimed the top spot in broker despite a 14% downturn. (Includes data chart.) Read More

ORIX Top Multifamily MBS Servicer in Ginnie Market

Delinquency rates remain at low levels for multifamily mortgages in Ginnie MBS, though modified loans accounted for 18% the outstanding market. (Includes data chart.) Read More

Ginnie Mae to Create 40-Year Pool Types for COVID Loan Mods

The move will allow Ginnie issuers to offer loan modifications that carry a lower monthly payment than the current 30-year term. Also, the agency can test the waters for such a product in the secondary market. Read More

White House Picks Gordon as FHA Commissioner

President Biden has nominated Julia Gordon to be the next FHA commissioner. Also, the White House has picked CFPB Acting Director Dave Ueijo as assistant secretary for fair housing. Read More

HUD Proposes to Restore 2013 Disparate-Impact Rule

If the Obama-era rule is reinstated, a six-year-old lawsuit filed by the National Association of Mutual Insurance Companies could be revived. Read More

Foreclosure Moratorium Gets Final Extension

Meanwhile, government agencies have plans to expand loss-mitigation options to ensure that borrowers coming out of forbearance don’t lose their homes. Read More

Sellers Treat FHA Borrowers Less Favorably, Survey Finds

Survey respondents said only 13% of sellers would “definitely” be likely to accept an offer from a buyer using an FHA or VA loan, compared to 66% for conventional loans. Read More

HECM Lender’s Motion to Dismiss Fraud Case Rejected

The upshot: The DOJ can proceed with its lawsuit against Nutter Home Loans for faulty underwriting. Read More

FHA Announces Changes to COVID-Related Policies

Self-employment and rental income policies extended until Sept. 30. Read More

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