The Mortgage Bankers Association this week raised concerns with the Department of Housing and Urban Development about its proposed property standards for new construction and substantial renovations of FHA-insured properties located in a floodplain.
Members of the House Financial Services Committee are seeking clarification related to the treatment of delinquent loan buyouts from Ginnie Mae pools in the new Community Reinvestment Act proposal.
Ginnie Mae announces implementation timeline for new single-family pool delivery; Ginnie signs memo with USDA on social metrics data sharing for ESG disclosures; HUD OIG issues semiannual report.
Borrowers could use interest-free partial claim funds to repay shortfalls on an FHA mortgage to bring it current and then receive a reduced monthly payment for three to five years.
FHA Commissioner Julia Gordon said FHA plans to “very soon” add a proposal to its drafting table on options that mortgage servicers can use to help borrowers reduce their monthly payments to keep them in their homes.
The volume of FHA and VA originations continued to fall in the first three months of the year, marking the eighth straight quarter-over-quarter decline. (Includes three data charts.)