Sharp staff cuts at FHA, VA and Ginnie Mae could lead to major problems for mortgage lenders and borrowers, according to analysts. But for now it appears to be business as usual for originations and servicing.

The requirements for new construction were established in a final rule issued in April 2024. The temporary waiver was prompted by executive orders from President Trump.

The average interest rate on a 30-year fixed-rate VA mortgage declined from 6.417% on Feb. 20 to 6.094% on Feb. 28.

The correspondent lender has removed certain overlays on streamlined refinance programs at FHA and VA. Newrez, meanwhile, added some overlays.

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 Senate voted 55-44 to confirm Scott Turner as housing secretary, paving the way for the Trump administration to install new leadership at FHA and Ginnie Mae.

The pause was ultimately rescinded following court injunctions. In the meantime, participants in government-insured mortgage programs faced uncertainty.

The changes were set to take effect Feb. 5. Instead, HUD instituted a 90-day delay to review the final rule developed by the Biden administration.

VA sets return-to-office requirements for employees; Indecomm adds FHA underwriting; RHS interest rates increase; number of downpayment assistance programs grows.

With a new federal administration in charge, the MBA renewed its calls for reductions to FHA premiums. However, the Trump administration is unlikely to cut premiums.