A rise in interest rates around the beginning of the year suppressed refi volume to some extent. PennyMac was the top Ginnie issuer of both FHA and VA mortgages in the first quarter. (Includes four data tables.)
HECM lending increased by 5.3% on a quarterly basis in the fourth quarter of 2024. But for the full year, endorsements declined, with a downturn in production in four major states. (Includes three data tables.)
The quality control processes of two FHA lenders affected review sample sizes, risk evaluations and reviews of loans that experience early payment defaults.
FHA-to-FHA refis increased by nearly 70% in the fourth quarter while purchase mortgage volume slid 12.4%. United Wholesale Mortgage remained the largest FHA lender in 2024.
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.
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 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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