FHA released a draft mortgagee letter this week proposing new nonjudicial foreclosure processes for mortgage liens held by the secretary of the Department of Housing and Urban Development.

The company previously launched an automated underwriting tool for government-sponsored enterprise mortgages, and is now considering one for VA loans.

The changes include higher loan limits for the 203(k) loans as well as higher fees for FHA-approved consultants.

FHA releases draft guidance on employment requirements for direct endorsement underwriters; OIG outlines top HUD management challenges; MISMO plans reverse mortgage data standards; and HUD announces latest appointments to Housing Counseling Federal Advisory Board.

A rise in VA and FHA refinance business helped to increase Ginnie Mae mortgage-backed security issuance in the third quarter. The increase in purchase-mortgage volume was more modest. (Includes four data tables.)

Streamlining the adoption of new loss-mitigation programs ahead of deadlines can help servicers enhance their loan portfolios, according to a white paper from DLS Servicing Consultants.

Following pushback from mortgage industry groups, FHA proposed extending the timeline for lenders to report certain cyber incidents to HUD.

Prior to the changes taking effect, VA issued a temporary variance to allow borrowers to pay buyer-broker charges so they can compete in the real estate market.

The Mortgage Bankers Association said the HUD proposal would make FHA-backed multifamily construction loans costly to originate.

Among various clarifications, FHA noted that lenders must provide ROV disclosure at mortgage loan application and on delivery of the appraisal report.