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Inside FHA/VA Lending

May 24, 2024

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VA Volume Rises in 1Q24; FHA Endorsements Drop

FHA’s share of the government-insured market declined to 60.8% in the first quarter of 2024, while VA production improved from the fourth quarter led by IRRRLs. (Includes three data tables.) Read More

VA to Issue Circular on Buyer’s Agent Commission

The VA plans to issue a circular next month addressing the current prohibition against VA borrowers paying fees or commissions to real estate agents as part of a home purchase. Read More

FHA Hikes Allowable Fees for Assumable Mortgages

FHA has doubled the fees servicers are allowed to charge for processing an assumable mortgage to a maximum of $1,800. Read More

Denial Rates on FHA Loans Outpace VA Denials in 2023

FHA first-lien, single-family home loan applications were turned down more often than VA home loan applications, according to an analysis of HMDA data. (Includes data table.) Read More

Ginnie Welcomes FSOC Proposal to Expand PTAP

The Financial Stability Oversight Council wants Congress to pass legislation that would allow Ginnie Mae to expand its pass-through assistance program for nonbank servicers. Read More

FDIC Settles With Arkansas Bank Over VA Refi Violations

The $3.4 million settlement resolves charges that the Arkansas-based Bank of England engaged in bait-and-switch and other deceptive practices when refinancing VA mortgages. Read More

Heritage Foundation Outlines Conservative Agenda for HUD

A coalition of conservative organizations, led by the Heritage Foundation, has published a 920-page handbook called Project 2025, laying out the policy agenda for the next conservative administration. Read More

Around the Industry

Former HUD Secretary Marcia Fudge joins Taft law firm as partner and public policy chair; MBA President Bob Broeksmit calls for national housing policy director; and Ginnie Mae to allow commingling of digital and paper loans. Read More

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