Large bank correspondent aggregators of FHA mortgages looked to firm guidelines on credit scores and LTV ratios while Fed researchers found that smaller nonbank lenders were willing to go down in credit and loan performance didn’t suffer.

Speaking at a recent MISMO summit, FHA Commissioner Julia Gordon said her biggest frustrations at FHA center around technology and procurement.

Government-insured mortgage originations grew across all three lending channels in the second quarter, with brokers gaining market share from the correspondent channel. (Includes data chart.)

FHA home equity conversion mortgage endorsements declined by 16.4% from the first to second quarter of the year. (Includes three data charts.)

Government-backed originations increased in the second quarter thanks to a seasonal boost in purchase mortgages. FHA production outpaced VA lending, and the top lenders largely increased originations. (Includes three data charts.)

The False Claims Act violations related to underwriting and quality control on FHA and VA loans, the Department of Justice said.

Department of Housing and Urban Development programs would be funded at much lower levels than those called for in President Biden’s budget proposal under a fiscal 2024 bill introduced in the House this week.

USDA deputy secretary confirmed; HUD seeks comments on burdens facing FHA lenders in maintaining eligibility; Ginnie Mae expands LMI disclosure initiative; and more.

Loans originated by correspondents made up nearly half of first-quarter government-insured lending, a new analysis shows. (Includes data chart.)

While the rules don’t apply to single-family homes, the agency has programs to help seniors and others improve their residences and make them safer.