FHA-to-FHA refis increased by nearly 70% in the fourth quarter while purchase mortgage volume slid 12.4%. United Wholesale Mortgage remained the largest FHA lender in 2024.
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FHA lending looks to be continuing uninterrupted amid recent staff cuts at HUD, though there are concerns about operations and oversight going forward.
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FHA walked back appraisal policies introduced during the Biden administration that had aimed to counter the effects of discrimination in property valuations.
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The quality control processes of two FHA lenders affected review sample sizes, risk evaluations and reviews of loans that experience early payment defaults.
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The HUD Office of Inspector General said Carrington and MidFirst improperly set FHA foreclosures in motion for borrowers who were still under review, and ultimately qualified for loss-mitigation options, placing unnecessary hardship on the borrowers and creating risks for HUD.
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Continuing resolution holds funding for HUD at FY 2024 levels; Rural Development retracts authority for noncitizens to apply for single-family guaranteed loans; VA Loan Guaranty Service posts FAQs.
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