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Inside FHA/VA Lending

December 6, 2024

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Purchase Mortgages, Refis Push Ginnie Issuance Up in November

Declining interest rates through September helped increase the flow of both purchase mortgages and refinances into Ginnie MBS in November. Issuance increased by 10.1% on a monthly basis, and growth in FHA refi business outpaced VA refi activity. (Includes two data tables.) Read More

Mortgage Industry Supports Trump’s Pick to Lead HUD

Industry stakeholders have largely applauded the nomination of Scott Turner as secretary of the Department of Housing and Urban Development, citing his experience and leadership. Read More

FHA Proposes Updates to Loss-Mitigation Waterfall

The draft standards differ based on whether borrowers can resume their original mortgage payments or need payment relief. Comments on the proposal are due Dec. 23. Read More

FHA Issues Guidance on Engagement With Borrowers in Default

The new requirements go into effect Jan. 1. However, FHA has provided servicers alternative interim procedures through June 30. Read More

House Passes Bill That Would Extend VA Loan Fee Increases

The Community Home Lenders of America warned that Congress shouldn’t use federal housing programs to pay for legislation. Read More

Ginnie Issuers Get Final Term Sheet for HMBS 2.0

The term sheet for Ginnie’s home equity conversion mortgage MBS 2.0 program is largely unchanged from the draft proposed earlier this year. Read More

FHA Plans to Test e-Delivery of Partial Claim Documents

The pilot seeks to demonstrate how HUD could reduce the costs associated with delivering and retaining original partial claim documents. Read More

Gordon Calls for ‘Marshall Plan’ to Rehab Distressed Homes

FHA Commissioner Julia Gordon said it is critical the government invest in existing homes, given that more than 40% of single-family homes are more than 50 years old. Read More

Around the Industry

HUD announces 2025 loan limits; FHA finalizes cyber incident reporting requirement updates; UWM removes LLPA for government loans; and more news in brief. Read More

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