FHA Commissioner Julia Gordon this week returned to her hometown of Philadelphia to address attendees at the Mortgage Bankers Association’s annual convention.
Loan removals from Ginnie MBS increased in the second quarter of 2023. Removals are largely tied to loan payoffs, though there are some variations among servicers. (Includes data chart.)
After falling below $100 billion in each of the previous two periods, Ginnie Mae issuance turned a corner in the second quarter. But volume is still far off the numbers for most of the past four years. (Includes four data charts.)
Flagstar Bank met FHA’s face-to-face requirement when it left a door hanger at the home of a borrower prior to foreclosing on the property, a state Supreme Court ruled.
The Mortgage Bankers Association proposed some revisions of its own in response to an FHA proposal to change home equity conversion mortgage disbursements and defaults.
The Department of Housing and Urban Development wants all new or substantially renovated homes insured by FHA to be elevated an additional two feet above base flood elevation.
Under the modified policy, FHA decreased the minimum loan balance threshold at which a mortgagee can submit the assignment request for a home equity conversion mortgage.
The success of the Section 203(k) program depends on reforms that would make it more accessible for borrowers and operationally feasible for lenders, according to the Mortgage Bankers Association.
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