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Inside FHA/VA Lending

November 23, 2022

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Refis Continue to Drag Govt-Insured Volume Down

VA lending took the brunt of the 3Q22 downturn as its streamlined refinance business all but disappeared. Meanwhile, UWM overtook Rocket in the FHA market. (Includes three data charts.) Read More

Experts Bemoan Looming Ginnie Mae Eligibility Rule

Small issuers will have two options: sell production to aggregators rather than Ginnie or sell off mortgage servicing rights.  Read More

FHA Adds Private Flood Insurance Option

The rule, which takes effect Dec. 21, differs somewhat from those that apply to other federally backed mortgages.  Read More

MMIF Audit Report Spurs New Calls for MIP Cut

Industry stakeholders once again called for cuts to FHA’s mortgage insurance premium last week after the agency announced a record high capital ratio for its Mutual Mortgage Insurance Fund. (Includes data chart.) Read More

FHA Serious Delinquencies Decline by Nearly Half This Year

New loss-mitigation techniques helped reduce the FHA serious delinquency rate to 4.77% by the end of fiscal 2022, according to the Mutual Mortgage Insurance Fund report released last week.  Read More

Counterparty Risk Still Among Top HUD Challenges: OIG

All 10 of the top management challenges facing the Department of Housing and Urban Development last year, including mitigating counterparty risk to mortgage programs, remain, the HUD Inspector General reported last week.  Read More

Replacement Index Must be Explicitly Specified: NCLC

Leaving the choice of index to the noteholder could lead to volatile payment amounts and default for the borrower as well as problems for FHA’s Mutual Mortgage Insurance Fund, the group says.  Read More

Around the Industry

FHA moves away from the Catalyst Electronic Appraisal Delivery module; the Mortgage Bankers Association asks the Senate Finance Committee to make the mortgage insurance premium tax deduction permanent; and more.  Read More

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