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Inside FHA/VA Lending

March 15, 2024

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Ginnie Issuance Up in February, Driven by Refis

Issuance of Ginnie Mae MBS increased by nearly 9.3% from January to February. The increase was due to a surge in refinancings. (Includes two data tables.) Read More

HUD Secretary Fudge Announces Retirement

Marcia Fudge, secretary of the Department of Housing and Urban Development, this week announced her retirement, effective March 22. HUD Deputy Secretary Adrianne Todman will step in as acting secretary. Read More

Congress Funds Government Home Loan Programs

President Biden last weekend signed a six-bill fiscal 2024 appropriations package that includes funding for the departments of Housing and Urban Development, Veterans Affairs and Agriculture. Read More

Gordon Plays Up FHA’s Role Among Latino Homebuyers

At the National Association of Hispanic Real Estate Professionals conference this week, FHA Commissioner Julia Gordon said FHA financing becomes increasingly important as interest rates rise. Read More

VA Alters Long-Pending IRRRL Proposal

Comments are due May 6 to address a change in language on the proposed rule, which was first issued in November 2022. Read More

Biden Outlines Housing Plans in Budget Request

President Biden’s fiscal year 2025 budget request includes a proposal for mortgage tax credits for first-time homebuyers as well as those who sell starter homes. Read More

MBA Praises Fee Hike for Loan Assumptions But Says Not Enough

VA lenders can now apply an assumption locality variance on loan assumptions. The MBA called for an even higher fee. Read More

Around the Industry

VA extends rescission date for circular on expanding home loan eligibility based on certain National Guard service; FHA issues mortgagee letter for Section 232 residential care facility mortgage insurance program; HUD allocates $70 million to 38 tribal communities; USDA updates guidelines on obtaining a payoff for a guaranteed loan mortgage recovery advance; HUD’s Office of Housing Counseling announces $10 million grant. Read More

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