FHA extends foreclosure moratorium tied to LA wildfires; HUD rescinds Affirmatively Furthering Fair Housing rule; CSBS seeks Ginnie servicing reforms; RHS delays servicing changes; Rate offers complimentary, temporary insurance for first responders; bill in Senate would speed mortgage processing at Bureau of Indian Affairs.
The FHA wasn’t spared from the Trump administration’s workforce reduction plan. Some industry observers fear the layoffs will slow underwriting times and delay closings.
Some $202.78 billion of loans were removed from Ginnie Mae MBS last year, with about 88% of them representing borrower payoffs. (Includes two data tables.)
Attorneys at the Bradley law firm suggested lender/servicers update their policies and procedures, such as internal audit and quality control, to preempt potential origination or servicing defects.
A borrower sued Navy Federal Credit Union for denying his mortgage refinancing application on the grounds that he had poor credit performance with the credit union.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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