NAR says a FEMA proposal to mandate a flood disclosure form is unnecessary and would overly burden states. 

Both FHA and VA volume in Ginnie MBS issuance declined on a monthly basis in October.

GSE securitization of mortgages with private MI declined in the third quarter while FHA activity increased.

Both the FHA and VA programs saw increases, but the bulk of the growth in Ginnie issuance in the third quarter came from FHA loans.

Lending tied to the GSEs will largely carry on as usual though government-insured business could face some difficulties during a government shutdown.

Brokers saw the biggest sequential increase in FHA/VA business, with volume up 59.1% from the first quarter to $13.35 billion.

“It’s taking us a little longer to get this done, but at the same time, we want to get it right,” Michelle Corridon, deputy director of policy at VA, said of the VA Servicing Purchase program.

Some $36.47 billion of Ginnie MBS was issued in August, essentially level compared with July.

The VA said the program was being developed within its existing regulatory authority, which means the Administrative Procedures Act would not apply.

Many smaller lenders can’t access the Ginnie platform because its eligibility standards require issuers to have “huge volumes,” Ginnie President Alanna McCargo noted.