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Inside FHA/VA Lending

November 3, 2023

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Ginnie Issuance Down, Both FHA and VA See Declines

Issuance of Ginnie MBS declined by 8.6% on a monthly basis in October. FHA and VA volume declined at similar rates while purchase-mortgage activity held up better than refinances. (Includes two data tables.) Read More

Senate Hearing Touches on Predatory Refi Practices in VA Programs

Representatives of military groups called for more protection against predatory refinance practices targeting service members and veterans. Read More

HUD Wants to Modernize Housing Counseling Methods

The Department of Housing and Urban Development plans to make permanent a pandemic-era waiver that allowed housing counselling agencies to use alternative communication methods. Read More

FHA Proposes Loosening HECM for Purchase Requirements

A new proposal from FHA would expand the list of funding sources borrowers could use to meet their monetary investment requirements under the HECM for purchase program. Read More

FHA Proposes Updates to HECM Servicing Policies

FHA wants to streamline policies allowing mortgage servicers to implement alternatives to foreclosure and update its incentive payments for the successful completion of a loss-mitigation option. Read More

Nonbank FHA Lenders Helped By ‘Soft’ Information

Large bank correspondent aggregators of FHA mortgages looked to firm guidelines on credit scores and LTV ratios while Fed researchers found that smaller nonbank lenders were willing to go down in credit and loan performance didn’t suffer. Read More

Industry Supports RHS Manufactured Housing Proposals

The U.S. Department of Agriculture plans to expand the options borrowers would have in using Rural Housing Service home loan programs for the purchase or renovation of manufactured housing. Read More

Around the Industry

White House backs conversion of commercial properties to residential housing; Community Home Lenders of America supports FHA move streamlining procedures following a loan case cancellation; HUD announces notice of sale of reverse mortgage notes; FHA extends disaster-related foreclosure moratorium in Maui; FHA manufactured housing appraisal requirements. Read More

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