Continuing with its efforts to curb serial refinancing, VA is set to tell certain lenders that their recent refinances may be ineligible for a guarantee, accord-ing to industry sources.
The American Legion and the Iraq and Afghanistan Veterans of America have announced their opposition to the House legislation to hike the fees charged for VA home-loan guarantees.
VA lenders and servicers have been instructed to ensure that information regarding funding fee exemptions is current at the time of closing to avoid in-correct fee charges to disabled veterans.
Reverse mortgage lenders saw modest growth in the second quarter with a mere 3.0% increase in HECM originations. The trend in the sector remains weak, with production at the mid-year mark down 33.7% from a year ago.
The volume of broker-originated FHA and VA refinance loans pooled in new Ginnie MBS jumped 94.1% from the first to the second quarter. Correspondent production saw the smallest gains among the three channels.
It will be the 11th issuance of its type by loanDepot.
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