Delinquency rates for FHA and VA mortgages pooled in Ginnie Mae MBS increased across the board in the third quarter, with the total delinquency rate on FHA loans topping 10%.
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Officials from the government agencies last week discussed plans to boost nonbank liquidity to ensure the entities can survive the next housing crisis.
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FHA released a draft mortgagee letter this week proposing new nonjudicial foreclosure processes for mortgage liens held by the secretary of the Department of Housing and Urban Development.
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The U.S. Court of Appeals for the Federal Circuit affirmed a lower court decision denying a breach of contract claim against the Department of Housing and Urban Development.
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The company previously launched an automated underwriting tool for government-sponsored enterprise mortgages, and is now considering one for VA loans.
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FHA releases draft guidance on employment requirements for direct endorsement underwriters; OIG outlines top HUD management challenges; MISMO plans reverse mortgage data standards; and HUD announces latest appointments to Housing Counseling Federal Advisory Board.
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