Some assistance programs have paused or stopped taking new applications from mortgagors...

Some industry watchers caution that looming volatility from a potential economic slowdown could lead to an uptick in delinquencies and foreclosures.

FHA and VA delinquencies among Ginnie servicers continued to drop from their pandemic peaks during the first quarter of 2022. Three of the top five servicers increased their government-insured servicing portfolio. (Includes four data charts.)

FHA officials Lopa Kolluri and Julienne Joseph further explain the motivating rationale for allowing a new 40-year loan-modification option for borrowers financially impacted by the pandemic.

The Department of Housing and Urban Development’s Mortgagee Review Board took disciplinary actions against 97 FHA-approved lenders during fiscal year 2021.

Senate majority leader files cloture on Gordon’s confirmation for FHA chief; HUD OIG announces two Ginnie audits; HUD to host webinar for reverse mortgage counselors; FHA extends temporary shutdown of loan review system; HUD updates civil monetary penalties; FHA closes multifamily housing loan; USDA updates lender requirements for OneRD guaranteed loan initiative; USDA opens SF loan program to non-citizens.

The Biden administration’s move to reduce the impact of medical debt from consumer credit reporting will make it easier for some homebuyers to qualify for government-backed mortgages.

The new option is for borrowers who cannot achieve at least a 25% reduction in the principal and interest portion of their payment through a 30-year loan modification with a partial claim.

Earlier this month, FHA issued proposed rule-making for a permanent 40-year loan option and is taking comments through May 31.

Ginnie Mae issuers securitized some $155.11 billion in mortgage-backed securities during the first quarter of 2022, a 17.5% decline on a sequential basis. (Includes four data charts.)