Government-backed originations increased in the second quarter thanks to a seasonal boost in purchase mortgages. FHA production outpaced VA lending, and the top lenders largely increased originations. (Includes three data charts.)
The trade group suggested HUD streamline property valuation data for HECMs through a waterfall of appraisal options that could eliminate the need for a second appraisal in some cases.
The Department of Housing and Urban Development, Fannie Mae and Freddie Mac reminded lenders and servicers of the options available to homeowners impacted by the deadly wildfires in Maui.
The delinquency rates on FHA and VA loans decline; USDA revises areas that no longer qualify as “rural” under its single-family housing program; FHA has released updates to its single-family housing policy handbook.
HUD is seeking feedback on a plan to make permanent COVID-era flexibilities related to face-to-face meeting requirements between delinquent borrowers and mortgage servicers.