As part of FHA’s ongoing outreach to industry, Julienne Joseph, deputy assistant secretary for single-family housing, released a video answering servicers’ questions on COVID-19-related loss-mitigation options.
Key metrics reviewed in HUD’s single-family default monitoring system showed that residential servicers generally complied with HUD’s forbearance reporting requirements for FHA loans.
Freedom Mortgage and Lakeview Loan Servicing were the top players in acquiring Ginnie servicing rights in the MSR transfer market during the second quarter. (Includes four data charts.)
FHA should offer borrowers a flexible loan-modification option that would use a portion of a servicer’s partial claim amount to reduce a borrower’s monthly payment, dollar for dollar, according to analysts at UI.
According to Ted Tozer, former Ginnie Mae president, the industry was warned ahead of time by the government guarantor of plans to tighten financial requirements for single-family MBS issuers.
Plagued with years of failed technology modernization initiatives, HUD is turning things around with an IT modernization roadmap deemed a success thus far by HUD's Inspector General.
Delinquency rates remain at low levels for multifamily mortgages in Ginnie MBS, though modified loans accounted for 18% the outstanding market. (Includes data chart.)
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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