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Inside FHA/VA Lending

December 14, 2018

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GNMA Data Reveal Sharp Increase in FHA Risk Layering Over 2 Years

FHA officials have sounded alarms over the rising concentration of higher-risk loans in new business. An exclusive new Inside FHA/VA Lending analysis shows they have good reason to be concerned. (chart) Read More

Correspondents Still Dominating FHA/VA Originations in 3Q18

Correspondent-production platforms regained a smidgeon of market share in government-insured lending during the third quarter, according to a new Inside FHA/VA Lending analysis. (chart) Read More

Borrowers on FICO’s Lower End Save More on FHA Cash-Out Refis

The ability to extract more equity at a lower price appears to be driving the growth in FHA cash-out volume, according to an Urban Institute analysis of FHA’s FY 2018 report on the financial condition of the Mutual Mortgage Insurance Fund. Read More

Analysts Suggest Interim Action for Ginnie Mae on Cash-Out Refi Loans

Mortgage-backed securities analysts are recommending that Ginnie Mae temporarily place VA cash-out refinance loans with high loan-to-value ratios in custom pools until the VA implements new rules to curb churning in cash-out refis. Read More

VA Announces 2019 Loan Limits, Baseline Limit Rises 6.9 Percent

The Department of Veterans Affairs has announced new VA loan limits for 2019, a 6.9 percent increase from last year. Read More

FoA Agrees to FCA Settlement; DOJ, IGs Resolve Billing Fraud Case

Finance of America – a Blackstone Group portfolio company – has agreed to pay $14.5 million to the government to resolve allegations that its operating subsidiary, Gateway Funding Diversified Mortgage Services, knowingly endorsed ineligible loans, resulting in losses to the FHA insurance fund. Read More

CFPB Hammers VA Lender for Deceiving Borrowers on IRRRLs

The Consumer Financial Protection Bureau has filed a complaint and a proposed settlement against a Nevada lender for misleading borrowers on the benefits of VA streamline refinancing. Read More

FHA’s Mandatory Second Appraisal for Certain HECMs Now Automated

The FHA has announced that protocols in place for second appraisal requirements for certain Home Equity Conversion Mortgage loans are now fully automated. Read More

FHA Drops Warranty Requirements for New Single-Family Construction

The Department of Housing and Urban Development has issued a final rule streamlining single-family home-warranty requirements for FHA insurance. Read More

Around the Industry

Mortgage broker trade group introduces NAMB All-In. Genworth launches risk-based pricing engine. VA updates fee-cost schedule. Industry groups pressure Senate to confirm Trump nominee for GNMA. Read More

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