As the economic fallout from the coronavirus worsens, all eyes are on the FHA book of business. Forbearance is here but delinquencies could spike. And what about nonbank issuer/servicers? Ginnie isn’t saying much.

The Department of Housing and Urban Development has suspended all foreclosures and evictions of FHA-insured homes for the next 60 days.

Bank of New York Mellon this month lost its designation as a Ginnie Mae document custodian but issuers have time to find a new one.

President Trump confirmed industry rumors by announcing his intent to nominate Dana Wade as FHA commissioner and assistant secretary for housing.

HUD sought no changes in its funding request for FHA and Ginnie but has called for legislative reforms, and will seek them through the authorization, rather than the appropriations, process.

HUD inspector general was unable to sign off on HUD’s and Ginnie Mae’s 2019 financial statements due to a lack of evidence that past accounting weaknesses and issues have been satisfactorily resolved.

An IG audit has discovered delays in servicer reporting of FHA-HAMP loan modifications and filing of partial claims, resulting in HUD’s inability to act on problems in a timely manner.

HUD’s inspector general reported $69.0 million in financial recoveries from 30 administrative-civil actions related to FHA fraud and $39.2 million in settlements with two FHA lenders.

An audit by the inspector general found that HUD had failed to meet basic privacy protection requirements for records containing stakeholders’ personally identifiable information.