Former FHA Commissioner David Stevens dies at 66; NAAHL names Sarah Brundage CEO; Ginnie hosts state housing agencies at roundtable; Ginnie files motion to dismiss TCB lawsuit; OCC to host appraisal bias hearing; and other news.
Reverse mortgage lenders funded $3.95 billion in new home equity conversion mortgages in the third quarter, a 17.9% increase from the previous period. Year to date, though, HECM endorsements lagged.
Industry participants are asking Congress to fully fund the salary and expense requests for both FHA and Ginnie Mae during the fiscal 2024 budget appropriations reconciliation.
Industry and consumer groups want the VA’s upcoming Veterans Assistance Servicing Purchase loss-mitigation program to target borrower payment reduction, not a single interest rate target.
Endorsements of FHA and VA insured loans increased by 9.2% in the third quarter while total first-lien originations declined. (Includes three data tables.)
Some $30.43 billion in Ginnie Mae mortgage-backed securities was issued last month. FHA volume held up better than VA activity. (Includes two data tables.)
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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