Most of the share lost by the correspondent channel was picked up by the broker channel.

The correspondent channel’s share of government-insured lending increased in the second quarter, but it was still down on a year-to-date basis from the first half of 2023. (Includes data table.)

At a conference on regulatory compliance and risk management this week, industry executives and government officials reiterated the importance of collaborating on policy to adapt to changes in the housing market.

Housing counseling agencies should increase training on home equity conversion mortgages to accommodate the rise in older Americans who want to age in place, according to FHA Commissioner Julia Gordon.

In July, FHA proposed a new rule governing the sale of seriously delinquent single-family home loans when they’re no longer insured by the agency.

VA clarified when lenders must provide invoices itemizing fees and charges for borrowers, and updated its state fees and charges deviations list.

The final rule is effective Oct. 16 and is unchanged from a proposal released by the Department of Housing and Urban Development in October 2023.

The draft mortgagee letter outlines guidance on a federal flood risk management standard related to minimum property requirements for newly built residential structures in special flood hazard areas.

Congress passes continuing resolution to fund the federal government and the National Flood Insurance Program; Sen. Tim Scott introduces Renewing Opportunity in the American Dream to Housing Act; trade groups ask FHA to extend waiver on policy updates related to in-person meeting requirement with borrowers in default; the Department of Justice has announced a $2.4 million settlement with shuttered FHA HECM lender.

Some industry players fear changes to how buyer agent commissions are paid will lead many Black homebuyers to forego representation.