FHA-to-FHA refis increased by nearly 70% in the fourth quarter while purchase mortgage volume slid 12.4%. United Wholesale Mortgage remained the largest FHA lender in 2024.
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.
Delinquencies on FHA mortgages are rising much more quickly than delinquencies on conventional mortgages, though large FHA servicers don’t appear to be too concerned. Meanwhile, VA foreclosures resumed in January after a moratorium ended.
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.
Some $202.78 billion of loans were removed from Ginnie Mae MBS last year, with about 88% of them representing borrower payoffs. (Includes two data tables.)
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The pause was ultimately rescinded following court injunctions.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.
VA sets return-to-office requirements for employees; Indecomm adds FHA underwriting; RHS interest rates increase; number of downpayment assistance programs grows.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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