One addresses foreclosures in states with a nonjudicial foreclosure process and the other would modify requirements for direct endorsement underwriters.
Delinquency rates for FHA and VA mortgages pooled in Ginnie Mae MBS increased across the board in the third quarter, with the total delinquency rate on FHA loans topping 10%.
Officials from the government agencies last week discussed plans to boost nonbank liquidity to ensure the entities can survive the next housing crisis.
The U.S. Court of Appeals for the Federal Circuit affirmed a lower court decision denying a breach of contract claim against the Department of Housing and Urban Development.
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 new FHFA director’s whirlwind first week resulted in widespread staffing cuts at the regulator and a dramatic change in leadership at the GSEs. So far, criticism has been muted.
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