The Center for Responsible Lending, the Housing Policy Council and the National Consumer Law Center are asking FHA to allow borrowers to roll closing costs into the balance of their streamline refinance loans.
The VA said Wednesday it is “strongly” encouraging mortgage servicers to extend their pause of foreclosures for VA-guaranteed home loans through the end of this year.
“We are fully committed to ensuring that veterans are neither disadvantaged nor overcharged in the homebuying process,” said VA Press Secretary Terrence Hayes.
FHA’s share of the government-insured market declined to 60.8% in the first quarter of 2024, while VA production improved from the fourth quarter led by IRRRLs. (Includes three data tables.)
The VA plans to issue a circular next month addressing the current prohibition against VA borrowers paying fees or commissions to real estate agents as part of a home purchase.
The Financial Stability Oversight Council wants Congress to pass legislation that would allow Ginnie Mae to expand its pass-through assistance program for nonbank servicers.