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Inside FHA/VA Lending

June 7, 2024

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Ginnie Issuance Rises in May, Fueled by Purchase Loans

The volume of government purchase loans securitized into Ginnie Mae mortgage-backed securities grew in May for the third month in a row. Refi volume declined somewhat compared with April. Read More

VA Calls for Targeted Foreclosure Moratorium

The Department of Veterans Affairs said the temporary pause will help fill the gap until servicers fully implement the Veterans Affairs Servicing Purchase home-retention program. Read More

MIP, Homeowners Insurance Pose Challenges to HECM Program

FHA is reviewing a proposal from the National Reverse Mortgage Lenders Association to cut the upfront mortgage insurance premium on home equity conversion mortgages. Read More

Gordon Highlights FHA Loss Mitigation, MIP Cut

FHA Commissioner Julia Gordon spoke recently with Wendy Penny, associate vice president of affordable housing initiatives at the Mortgage Bankers Association. Read More

Ginnie Updates on Plans for New HMBS Product

Ginnie Mae plans to release a term sheet in June on a new security backed by FHA home equity conversion mortgages. Read More

Bank Exits Didn’t Improve FHA Underwriting Quality

A new study has found no discernible effect in FHA loan underwriting following the wave of DOJ lawsuits post 2008 to crack down on reckless mortgage lending by banks. Read More

Officials Highlight Variations in Government Home Loan Programs

The government home loan programs have different eligibility requirements for Native American borrowers based on geography and income levels. Read More

Around the Industry

VA issues circular on upcoming changes to its full file loan review submission process; FHA launches case binder module updates to its Catalyst system; FHA releases pre-recorded webinar for first-time homebuyers. Read More

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

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