A gusher of refinance loans over the second half of the year pushed Ginnie MBS production to a record $498 billion in 2019, up 28% from the previous year. (Includes four data charts.)
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The revised defect taxonomy will hardly nudge banks to return to or increase participation in FHA programs despite tighter standards for identifying and curing defective loans, according to industry stakeholders.
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In 2020, FHA is poised to take a significant chunk of high-risk business as Fannie and Freddie continue to draw back from the over-95% LTV market. VA is expected to continue its slow-growth trajectory.
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A bipartisan group of House lawmakers sent a letter urging HUD to engage with Native American tribes before formulating any rulemaking, such as on downpayment assistance, that would impact tribal organizations.
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Four industry groups expressed support for FHA changes addressing False Claims Act liability and urged HUD to adopt as quickly as possible FHA’s revised loan-level certification.
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Based on FHFA’s new 2020 loan limits, VA announced guidance for deter-mining the guarantee on loans to veterans with partial entitlement while Ginnie revised its definition of “high balance” loans.
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The U.S. Department of Agriculture’s Rural Housing Service finalizes a rule designed to streamline the loss-claim process under its single-family housing guaranteed loan program for lenders that have acquired real estate-owned property through voluntary liquidation or foreclosure.
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