The Department of Veterans Affairs wants to act quickly to stamp out cash-out refinance transactions that it deems abusive to service members. It’s going to bypass a lengthy rulemaking process and issue an interim rule to address the problem.
Home Equity Conversion Mortgage originations saw a modest 4.7 percent sequential fall in the third quarter as the downward volume trend for reverse mortgages continued. [Includes one data chart.]
In an analysis of FHA’s fiscal 2018 audit of the Mutual Mortgage Insurance Fund, analysts believe the Department of Housing and Urban Development may be inclined to shrink FHA’s footprint modestly given the risk profile of its new business.
The Department of Housing and Urban Development has not conducted a single nonperforming loan sale in 2018 because apparently investors have found a quicker way to obtain newly foreclosed properties.