The VA is adding a step to its appraisal bias detection procedures. Meanwhile, the National Association of Realtors told the agency not to rush its appraisal modernization efforts.

Proposed updates to rules governing VA interest rate reduction refinance loans drew asks from VA lenders and trade groups around loosening eligibility requirements for borrowers to maintain access to the product. (Includes data chart.)

A last-minute budget deal resulted in funding increases for many HUD housing-related programs.

Outlook for Wells’ participation in FHA market unclear; Biden signs legislation to improve VA appraisals; MBA calls for higher fee on mortgage assumptions; VA revises forms; FHA hosting webinar on quality assurance; Rural Housing Service updates program guidelines.

Nonbank issuers participating in Ginnie Mae MBS now have until the end of 2024 to comply with new risk-based capital requirements.

Industry analysts continue to assess Ginnie Mae’s new nonbank issuer eligibility requirements and what impact they might have on the mortgage market.

The guidance is aimed at helping issuers understand how the new risk-based capital ratio requirements apply to mortgage servicing rights, among other issues.

The new standards are a result of a collaboration between Ginnie and the Federal Housing Finance Agency to align rules for their counterparties. Most of the new standards take effect Sept. 30, 2023.

The House Committee on Veterans Affairs has marked up 18 bills to support veterans, among them one would improve the appraisal process under the VA home loan program.

American Financial Network has agreed to pay roughly $1 million to settle allegations it fraudulently originated FHA loans.