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Inside FHA/VA Lending

August 16, 2024

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Purchase Market Leads FHA, VA Growth in Second Quarter

Combined endorsements for FHA and VA forward loans increased by 17.8% from the first quarter to the second. (Includes three data tables.) Read More

Ginnie MBS Issuance Continues to Grow in July

Ginnie Mae issuers produced $38.15 billion into mortgage-backed securities in July, an 8.3% increase from the previous month. (Includes two data tables.) Read More

FHA Considering Extending Deadline to Apply for 203(h) Loans

Under current rules, borrowers must apply for a 203(h) mortgage within one year of the President’s declaration of the disaster. Read More

VA Circular Clarifies Loss-Mitigation Guidance Confusion

VA wants servicers to immediately stop offering previously outlined loss-mitigation options from Chapter 5 of its servicers’ handbook. Read More

Court Holds COVID Foreclosure Pause Tolled Statute of Limitations

The case revolved around a property in Brooklyn, NY, with a reverse mortgage dating back to February 2007 and whose owner died in February 2013. The borrower’s estate challenged the foreclosure, arguing that it was past the statute of limitations. Read More

RHS Issues Final Rule With Updates to MRA Process

Mortgage servicers will be able to offer the mortgage recovery advance option as a standalone feature or as part of a 30- or 40-year loan modification, the Rural Housing Service said. Read More

Housing Professional Pleads Guilty to Fraud on FHA Loans

A California-based real estate professional admitted to conspiring to originate 102 home loans worth more than $55 million using false and fraudulent loan application information. Read More

Around the Industry

Vice President Kamala Harris outlines economic agenda for her presidential campaign; ex-FHA official joins M&T Bank; VA outlines secondary borrowing requirements when using assumable mortgages; FHA drafts guidance on loss-mitigation consultation requirements. Read More

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