Commenters said the challenges that servicers face in responding to COVID-related loss-mitigation programs argue against a rush by VA to implement its servicer tier rankings.
The government agency is investing $470,000 in a sweat equity program in which homebuyers in rural southwest Pennsylvania will contribute to the construction or rehabilitation of their houses.
Government lending declined across all three major production channels during the first quarter of 2022. However, the correspondent platform was able to significantly boost its market share. (Includes data chart.)
Officials from FHA, VA and USDA’s Rural Housing Service recently discussed how to help borrowers through the challenges of today’s volatile housing market.
Fairway Independent Mortgage, Movement Mortgage and Caliber Home Mortgage were the top three lenders in USDA’s Rural Housing Service single-family housing guaranteed loan program.
FHA and VA endorsements shrank more than 19% in the first quarter as interest rates climbed. Those who made a quick switch from refi to purchase business thrived. (Includes three data charts.)
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