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Inside FHA/VA Lending

March 7, 2025

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Ginnie Issuance Continues Tanking After November Peak

The Ginnie Mae market continued to retreat in February. Most securitizers lost volume and PennyMac retained its top spot despite a 29.4% decline in issuance volume. (Includes two data tables.) Read More

FHA, VA Functioning Despite Dire Warnings

Sharp staff cuts at FHA, VA and Ginnie Mae could lead to major problems for mortgage lenders and borrowers, according to analysts. But for now it appears to be business as usual for originations and servicing. Read More

FHA Servicing Under Pressure; VA Foreclosures Resume

Delinquencies on FHA mortgages are rising much more quickly than delinquencies on conventional mortgages, though large FHA servicers don’t appear to be too concerned. Meanwhile, VA foreclosures resumed in January after a moratorium ended. Read More

FHA Issues Temporary Waiver on Flood Elevation

The requirements for new construction were established in a final rule issued in April 2024. The temporary waiver was prompted by executive orders from President Trump. Read More

VA Refi Demand Spikes on Interest Rate Decline

The average interest rate on a 30-year fixed-rate VA mortgage declined from 6.417% on Feb. 20 to 6.094% on Feb. 28. Read More

PHH Loosens Standards for Streamlined FHA, VA Refis

The correspondent lender has removed certain overlays on streamlined refinance programs at FHA and VA. Newrez, meanwhile, added some overlays. Read More

UI Analysts Call for Updates to FHA, VA Refi Policies

According to researchers at the Urban Institute, refi programs at FHA and VA are detrimental to both borrowers and investors. Read More

Around the Industry

FHA extends foreclosure moratorium tied to LA wildfires; HUD rescinds Affirmatively Furthering Fair Housing rule; CSBS seeks Ginnie servicing reforms; RHS delays servicing changes; Rate offers complimentary, temporary insurance for first responders; bill in Senate would speed mortgage processing at Bureau of Indian Affairs. Read More

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