Overhauling Ginnie Mae’s budget process might resolve the problem of low staffing levels and heavy reliance on contractors to perform major tasks, such as servicing, compliance and oversight.
Increasing the threshold for requiring appraisals on real estate transactions will not result in a more efficient mortgage underwriting process, according to Collateral Analytics.
FHA has proposed revisions to its lender certification requirements and defect taxonomy in a bid to provide lenders and servicers greater certainty in how to meet the agency's compliance standards.
Dozens of VA lenders have been subpoenaed by the US Attorney’s Office in Brooklyn to turn over hundreds of VA loan files in connection with an investigation of their lending practices.
FHA is seeking feedback on proposed changes to loan-level and annual lender certifications and the defect taxonomy to clarify lender liability under the False Claims Act.
Ginnie Mae is seeking feedback from stakeholders on the impact of potential changes to rules governing loan eligibility for Ginnie II multi-issuer MBS pools.
FHA’s and VA’s purchase originations fell during the first three months of 2019 despite lower interest rates. On the other hand, lower rates helped boost both programs’ refinance production during the quarter.