Declining interest rates through September helped increase the flow of both purchase mortgages and refinances into Ginnie MBS in November. Issuance increased by 10.1% on a monthly basis, and growth in FHA refi business outpaced VA refi activity. (Includes two data tables.)

Industry stakeholders have largely applauded the nomination of Scott Turner as secretary of the Department of Housing and Urban Development, citing his experience and leadership.

The draft standards differ based on whether borrowers can resume their original mortgage payments or need payment relief. Comments on the proposal are due Dec. 23.

The new requirements go into effect Jan. 1. However, FHA has provided servicers alternative interim procedures through June 30.

The Community Home Lenders of America warned that Congress shouldn’t use federal housing programs to pay for legislation.

The term sheet for Ginnie’s home equity conversion mortgage MBS 2.0 program is largely unchanged from the draft proposed earlier this year.

The pilot seeks to demonstrate how HUD could reduce the costs associated with delivering and retaining original partial claim documents.

FHA Commissioner Julia Gordon said it is critical the government invest in existing homes, given that more than 40% of single-family homes are more than 50 years old.

HUD announces 2025 loan limits; FHA finalizes cyber incident reporting requirement updates; UWM removes LLPA for government loans; and more news in brief.

An affiliate of Proprietary Capital won some significant rulings this week in a lawsuit against Mr. Cooper. The dispute involved early buyouts from Ginnie Mae MBS.