In comment letters already submitted, mortgage servicers and credit unions warned that proposed capital requirements could force some entities out of the Ginnie market and drive up the costs of loans.
If confirmed, FHA nominee Julia Gordon’s first task will be to manage borrower exits from COVID-related forbearance programs that start this fall. However, her confirmation is unlikely to happen before September.
Democrats on the Senate Banking Committee want the next FHA commissioner to revisit an Obama-era policy that keeps distressed properties out of the reach of individual home buyers.
Two waivers address concerns that requiring re-reviews of which borrowers were eligible for foreclosure prevention options could take focus away from loss-mitigation efforts.
House Financial Services Committee Chair Maxine Waters is asking HUD, VA and USDA to address a month-long gap in protections that are meant to help keep borrowers from foreclosure during the pandemic.
FHA should offer borrowers a flexible loan-modification option that would use a portion of a servicer’s partial claim amount to reduce a borrower’s monthly payment, dollar for dollar, according to analysts at UI.
Mortgage industry participants are suggesting HUD temporarily redistribute underwriting workloads across regions based on the size of their respective pipelines.
RSS