The financial conditions of Ginnie Mae’s largest nonbank issuers appear to be healthy and the firms ready for any potential economic downturn, the secondary mortgage market agency said.
FHA is seeking feedback on proposed changes to loan-level and annual lender certifications and the defect taxonomy to clarify lender liability under the False Claims Act.
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?
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