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Inside FHA/VA Lending

December 22, 2017

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Court Raises Lenders’ Chances of Surviving a False Claims Act Suit

Mortgage lenders and servicers chalked up a win following a federal appeals court decision that would make it harder for the government and whistleblowers to pursue a claim under the False Claims Act. Read More

Notwithstanding Efforts to Resolve FCA Issue, Lenders Remain at Risk

Lenders continue to be hit with steep False Claims Act penalties despite assurances by Housing and Urban Development Secretary Ben Carson that he would address the FCA issue. Read More

Correspondent Channel Gains Share in Government Market

Correspondents, which account for a large percentage of government-insured lending, saw their share grow in 2017 even as retail went through a production slump, according to an analysis by Inside FHA/ VA Lending. Read More

HECM Originations Down in 3Q17, 9-Month Total Up Year-Over-Year

New Home Mortgage Equity Conversion production fell in the third quarter even as changes to the program, including a 200 basis point increase in the upfront HECM insurance premium, took hold in September, according to Inside FHA/VA Lending’s analysis of FHA reverse-mortgage activity. Read More

Issuance of MBS Backed by USDA Loans Increases in Third Quarter

Issuance of mortgage securities backed by USDA loans rose 9.3 percent in the third quarter from the prior period. Read More

Ginnie Mae’s Latest Anti-Churning Measures Presage More Changes

Ginnie Mae’s latest efforts to rein in serial VA refinancing and rapid prepayments in mortgage-backed securities pools augur additional changes to pooling and refi requirements at Ginnie and the Department of Veterans Affairs, analysts said. Read More

VA Places Qualified Mortgage Rule, Allowable Fees on Its 2018 Agenda

The Department of Housing and Urban Affairs plans to act on two new rules in 2018 relating to allowable fees and charges on VA loans as well as the type of loans that are “qualified mortgages.” Read More

VA Announces New Disaster Loan Modification Option for Servicers

The Department of Veterans Affairs has announced a new disaster-related loan modification option for servicers to use to help affected borrowers. Read More

GAO Asks Congress to Specify Conditions MMIF Can Survive

The Government Accountability Office, in a new report, urged Congress to specify the economic conditions it believes the FHA mortgage insurance fund can withstand without supplemental funds. Read More

Wintrust Announces Agreement to Purchase VA Lender’s Assets

Wintrust Financial Corp. has announced an agreement to purchase certain assets and assume certain liabilities of iFreedom Direct Corp., which originates VA-backed loans as Veterans First Mortgage. Read More

No Agreement on Stopgap Funding As Government Shutdown Looms

Congressional leaders are working behind closed doors on a stopgap-spending bill that would prevent a government shutdown and keep federal agencies operating past Dec. 22. Read More

Around the Industry

A roundup of news impacting FHA/VA lending. Read More

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