Following seasonal patterns, the number of FHA and VA loans in early stages of delinquency fell sharply from the fourth quarter of 2018 to early 2019. Nonbanks continued to expand their footprint, accounting for 62.2% of outstanding Ginnie single-family servicing.
A U.S. district court judge in Detroit has directed Quicken Loans and DOJ to settle via mediation their dispute over poorly underwritten FHA loans. But will they?
Freedom Mortgage, one of the largest non-bank lender/servicers in the nation and a top FHA/VA lender, is ready to issue $250 million worth of debt at a stunning cost of 10.75%. Now the question is: what will it do with the cash?
The U.S. District Court for the Northern District of California has approved a class-action settlement between borrowers and a large bank to resolve allegations of illegal and unfair collection of post-payment interest on FHA-insured mortgages.
Ginnie Mae approved far fewer issuers last year than in 2017, according to agency data. Only eight out of 28 applicants were approved to participate in its mortgage-backed securities program, as against 22 issuers in the previous year.
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