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Inside FHA/VA Lending

December 9, 2022

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Ginnie MBS Issuance Slump Continues in November

Issuance of Ginnie Mae single-family mortgage-backed securities dropped 5.6% in November as refinances hit their lowest level in more than three years. (Includes two data charts.) Read More

Gordon Hopes FHA MIP Cut Process Won’t Drag On Too Long

Commissioner Julia Gordon said FHA is considering all the potential pieces of a mortgage insurance premium cut, including the upfront premium and the life-of-loan requirements. Read More

Finance of America to Buy AAG; RMF Files Ch. 11

Finance of America has struck a deal to buy American Advisors Group, the nation’s largest HECM lender. Meanwhile, Reverse Mortgage Funding filed for bankruptcy and is in discussions to transfer its servicing platform to Longbridge Financial. Read More

HUD Lagging on Hundreds of OIG Recommendations, Report Says

The Office of Inspector General says the Department of Housing and Urban Development could realize a $19 billion savings if it implemented them all. Read More

HUD Fund Could Offset Cost of Originating Small Loans, MBA Says

The Mortgage Bankers Association and others in the mortgage lending and affordable housing communities commented on an FHA request for information on the challenges of small-balance mortgage lending. Read More

HUD Proposes Rules to Strengthen Indian Home Loan Program

The Department of Housing and Urban Development wants to increase lender participation in its Section 184 program to meet increased borrower demand for housing financing on tribal trust lands. Read More

Senate VA Committee Leaders Recommit Support for NADL Legislation

The legislation would give Native veterans more opportunities to purchase, refinance and renovate properties on tribal lands through VA’s Native American direct loans. Read More

Around the Industry

FHA announces 2023 loan limits; VA circular describes interplay of conforming loan limits and VA entitlement; Ginnie makes VA lending recommendations; Ginnie offers new flexibilities for issuer financial eligibility requirements; FHA extends temporary loss-mitigation waivers; HUD IG issues reverse mortgage scam warning. Read More

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