Home Equity Conversion Mortgage endorsements dropped last year despite a strong fourth quarter. American Advisors Group retained its top position among HECM lenders. (Includes two data charts.)
FHA endorsements in the fourth quarter of 2019 were the highest in years. Most of the increase was in the refinancing business led by the lower interest rate environment.
The Justice Department sees no need to issue additional guidance on defective FHA loans. The agency believes the actions undertaken so far will encourage depository institutions’ participation in the FHA program.
Community mortgage lenders are asking FHA to drop its life-of-loan premium policy that requires borrowers to pay annual mortgage insurance premium until their loan is fully paid.
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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