New loss-mitigation techniques helped reduce the FHA serious delinquency rate to 4.77% by the end of fiscal 2022, according to the Mutual Mortgage Insurance Fund report released last week.
All 10 of the top management challenges facing the Department of Housing and Urban Development last year, including mitigating counterparty risk to mortgage programs, remain, the HUD Inspector General reported last week.
Leaving the choice of index to the noteholder could lead to volatile payment amounts and default for the borrower as well as problems for FHA’s Mutual Mortgage Insurance Fund, the group says.
FHA moves away from the Catalyst Electronic Appraisal Delivery module; the Mortgage Bankers Association asks the Senate Finance Committee to make the mortgage insurance premium tax deduction permanent; and more.
A Cleveland homeowner says Nationstar (now known as Mr. Cooper) improperly declined his COVID-related loan-modification request. Nationstar acquired the servicing rights from another company.
Homeownership programs could take a lesson from scholarship models in the education field: Intentional first-generation assistance programs could add five million net new homeowners.