White House releases budget request; MBA seeks clarifications from FHA on expanded COVID loss-mitigation options; MBA asks VA to consider appraisal-related policy reforms; HUD finalizes rule removing LIBOR as approved index for FHA ARMs; House bill seeks to make permanent mortgage insurance premium tax deduction.

Ginnie Mae has reduced the required minimum size for mortgage-backed securities pools with home-equity conversion mortgages from $1.0 million to $250,000.

Ginnie Mae has reduced the required minimum size for MBS pools with home-equity conversion mortgages to $250,000 from $1 million.

Ginnie reduces minimum required pool size for HMBS; Ares Management to issue non-QM MBS; S&P extends comment period on triple-net lease changes; Stifel builds out agency MBS unit; commercial MBS issuers urged to consider advertising.

Ginnie Mae has reduced the required minimum size for its Home Equity Conversion mortgage-backed securities pools from $1 million to $250,000.

The National Consumer Law Center said FHA should reform its home equity conversion mortgage program to reduce the number of so-called preventable foreclosures.

The National Consumer Law Center has called for flexibility in FHA’s property charge loss-mitigation policies, among other changes.

Fairway Independent Mortgage, the nation’s fifth largest reverse mortgage lender as of the end of September 2022, plans to invest “unprecedented resources” to achieve its goal.

If the largest servicer of HECMs couldn’t handle the financial burden posed by mandatory buyouts of the loans, what hope is there for others? FHA is being urged to make changes to HECM policies. (Includes data chart.)

In late December, Ginnie seized HECM servicing from Reverse Mortgage Funding, which had recently filed for bankruptcy. Other HECM servicers are also facing liquidity pressure, according to industry analysts.