Treasury recommends Congress authorize Ginnie Mae to provide “last position” guarantee on MBS backed by conventional and multifamily home loans as well as give it the flexibility to adjust its guarantee fee.
Mortgage lenders posted a net gain of $1,675 per origination in the second quarter, the best quarter the industry has seen since the third quarter of 2016, the Mortgage Bankers Association said in a recent report.
Low-downpayment mortgages remain at the core of financing for first-time homebuyers, who continue to move away from FHA and VA programs to-ward conventional home loans.
The original guidance from HUD barred such entities from providing DPA outside of their jurisdictions, affecting – in particular – Native American tribes that offer cash assistance through FHA lenders
For the first half, the top five HECM lenders were American Advisors Group, One Reverse Mortgage, Synergy One, Reverse Mortgage Funding, and Fairway Independent Mortgage…
The agency has issued interim instructions for obtaining an FHA case number for a unit in an unapproved condominium project that will be processed as a single transaction.
Reverse mortgage lenders saw modest growth in the second quarter with a mere 3.0% increase in HECM originations. The trend in the sector remains weak, with production at the mid-year mark down 33.7% from a year ago.