Sharp staff cuts at FHA, VA and Ginnie Mae could lead to major problems for mortgage lenders and borrowers, according to analysts. But for now it appears to be business as usual for originations and servicing.
The requirements for new construction were established in a final rule issued in April 2024. The temporary waiver was prompted by executive orders from President Trump.
FHA extends foreclosure moratorium tied to LA wildfires; HUD rescinds Affirmatively Furthering Fair Housing rule; CSBS seeks Ginnie servicing reforms; RHS delays servicing changes; Rate offers complimentary, temporary insurance for first responders; bill in Senate would speed mortgage processing at Bureau of Indian Affairs.
The Senate voted 55-44 to confirm Scott Turner as housing secretary, paving the way for the Trump administration to install new leadership at FHA and Ginnie Mae.
The pause was ultimately rescinded following court injunctions. In the meantime, participants in government-insured mortgage programs faced uncertainty.
GAO called for Ginnie Mae to develop processes for participating in interagency exercises, noting that FHFA did a better job than Ginnie in an FSOC effort aimed at addressing the likely failure of a major nonbank mortgage company.
VA sets return-to-office requirements for employees; Indecomm adds FHA underwriting; RHS interest rates increase; number of downpayment assistance programs grows.
Housing Secretary nominee Scott Turner offered few specifics during his confirmation hearing last week. But he outlined plans to review agency programs and maximize their budgets.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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