As Florida braces for Hurricane Dorian, FHA announced expanded loss mitigation options for homeowners located in presidentially declared major disaster areas.
HUD and Ginnie Mae, in a joint policy action, announced changes to the eligibility criteria for cash-out refis to reduce lender risk, preserve homeowner equity and boost investor confidence.
Industry participants have mixed views on how letting the QM patch expire as scheduled under the ability-to-repay/qualified mortgage rule would affect FHA business overall.
Legislation has been introduced in the House and Senate to help prevent FHA foreclosures by increasing oversight of mortgage servicers to ensure they are complying with loss-mitigation requirements.
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