Vice President Kamala Harris outlines economic agenda for her presidential campaign; ex-FHA official joins M&T Bank; VA outlines secondary borrowing requirements when using assumable mortgages; FHA drafts guidance on loss-mitigation consultation requirements.
Senate passes the VA Home Loan Awareness Act; USDA updates income limits for home loan programs; the Department of Housing and Urban Development and the Federal Emergency Management Agency announce partnership to address disaster housing recovery challenges.
Retail lenders and brokers boosted their respective market shares in government-insured mortgage production during the first quarter of the year though correspondents still were the dominant channel. (Includes data table.)
The Department of Veterans Affairs’ first annual conference since 2019 will include panels for mortgage servicers and home appraisers in addition to lender-focused talks.
White House releases budget request; MBA seeks clarifications from FHA on expanded COVID loss-mitigation options; MBA asks VA to consider appraisal-related policy reforms; HUD finalizes rule removing LIBOR as approved index for FHA ARMs; House bill seeks to make permanent mortgage insurance premium tax deduction.
Ginnie Mae has reduced the required minimum size for mortgage-backed securities pools with home-equity conversion mortgages from $1.0 million to $250,000.
If the largest servicer of HECMs couldn’t handle the financial burden posed by mandatory buyouts of the loans, what hope is there for others? FHA is being urged to make changes to HECM policies. (Includes data chart.)
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