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Inside FHA/VA Lending

February 16, 2024

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House Hearing Puts VASP Roll-Out in Question

VA’s proposed VA Servicing Purchase loss-mitigation program faced intense criticism this week from Rep. Derrick Van Orden, R-WI. Read More

HUD Looks to Congress for Funding Changes at FHA

Department of Housing and Urban Development Chief of Staff Julienne Joseph this week provided an update on anticipated policy changes to the FHA single-family home loan program. Read More

Credit Trends Mixed at FHA, VA in 2023

The average credit score for an FHA loan delivered into Ginnie Mae mortgage-backed securities increased in 2023, while average scores for VA loans didn’t budge. (Includes two data tables.) Read More

VA Updates COVID-19-Era Loss-Mitigation Waterfall

The VA last week issued a circular extending COVID-19-related loss-mitigation assistance through May 31. Read More

Industry Asks VA to Align Property Requirements With GSEs

VA borrowers could stand a better chance when bidding for a home if the agency’s minimum property requirements are aligned with GSE standards, according to mortgage lenders. Read More

USDA Could Face FCRA Liability After Supreme Court Decision

The Supreme Court in a unanimous decision last week ruled that federal home loan agencies are not immune from civil monetary penalties for violations of the Fair Credit Reporting Act. Read More

RHS Guarantees $1.26B in SFH Loans in Fourth Quarter

Loans to communities ranked with a high social vulnerability index made up roughly 22% of Rural Housing Service-guaranteed single-family home loans in the fourth quarter of 2023. (Includes data table.) Read More

Around the Industry

Rep. Member Maxine Waters, D-CA, urged Congress to pass the housing package that had been part of an earlier session’s Build Back Better bill; MISMO launches working group for federal housing agency dataset to support servicers; VA updates COVID-19-era loss-mitigation support; VA extends rescission date for assisted appraisal processing program; USDA raises appraisal fee for direct loans; USDA announces limited waiver for SFHGL servicers. Read More

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