Economists project a modest uptick in mortgage originations next year as interest rates are expected to continue to fall. But the decline in rates will depend on how quickly inflation comes under control.
An inspector general identified counterparty risk related to protecting FHA’s Mutual Mortgage Insurance Fund as one of HUD’s top management challenges for 2024.
The broker share of the government-insured market declined to 20.4% in the third quarter, down from 21.2% in the second quarter. (Includes data table.)
FHA lacks sufficient safeguards to monitor its lenders and servicers and to prevent ineligible loans and claims in its mortgage insurance program, according to the HUD’s Office of Inspector General.