Delinquent loans accounted for 7.37% of FHA mortgages in Ginnie MBS at the end of September, up from 6.98% at midyear. The total delinquency rate for VA loans rose from 3.52% to 3.73% over that period. (Includes four data charts.)
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Ginnie Mae is now targeting mid-tier issuers and servicers for stress testing to gauge their financial strength and ability to weather adverse economic conditions.
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Continuing with its efforts to curb serial refinancing, VA is set to tell certain lenders that their recent refinances may be ineligible for a guarantee, accord-ing to industry sources.
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The American Legion and the Iraq and Afghanistan Veterans of America have announced their opposition to the House legislation to hike the fees charged for VA home-loan guarantees.
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HUD Secretary Ben Carson faced the ire of House Democrats over delays in sending disaster recovery funds to Puerto Rico and issues related to disparate impact and risk-based pricing.
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VA lenders and servicers have been instructed to ensure that information regarding funding fee exemptions is current at the time of closing to avoid in-correct fee charges to disabled veterans.
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New York state agencies against HUD’s proposal on disparate impact rule; USDA warns customers of fraudulent calls; FHA provides training material for implementation of FHA-insured condo financing rules.
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