Delinquency rates for government-insured loans generally declined in the first quarter, but 30-day past-due rates were up for both FHA and VA, with a noticeable gain from February to March. (Includes four data charts.)
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FHA loans are known as low FICO score products, and that's a problem in this new coronavirus world we live in. Warehouse lenders are lowering the boom.
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Arch Capital announced loss estimates related to COVID-19. Meanwhile, S&P revised downward its outlook on five of the nation’s six private mortgage insurers.
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Thanks to a tweak in regulatory language, approved Ginnie Mae servicers can access financing for servicing advances. PennyMac was the first to sign up. Will other nonbanks follow?
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Greystone to provide $25 million in HUD-insured construction financing for a multifamily project; the COVID-19 outbreak has spurred technological innovation at FHA; A new hire for Down Payment Resource.
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