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Inside FHA/VA Lending

August 21, 2020

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Government Lending Loses More Ground to PMI in 2Q20

Freedom Mortgage remained the top FHA lender at the midway point in 2020 as several of its competitors pulled back from the market. The nonbank extended its lead in the VA sector. (Includes three data charts.) Read More

Ginnie Loans in Forbearance Drop, But Wait, There’s More

Servicers of Ginnie product are buying delinquent FHA and VA loans out of MBS pools and now the mortgages are showing up in a different forbearance category. Read More

Better Late Than Never: The Freedom-RoundPoint Deal Closes

FHA/VA lending giant Freedom Mortgage acquired servicer RoundPoint Mortgage of Charlotte, NC. Both firms are privately held. Read More

Industry Concerned About Proposed Changes to DPA

The proposal aims to ensure governmental entities that participate in downpayment assistance programs do not benefit financially. Read More

CHLA Calls for Lower Penalties on Servicers for Missed Deadlines

Servicers who fail to meet processing timeframes have to forfeit interest for the entire time it takes to resolve a loan in default. Read More

Industry Urges FHA to Ease Rules for Borrowers with Student Loans

The current method for calculating monthly student-loan payments results in artificially inflated debt-to-income ratios. Read More

FHA Extends Deadline for Filing Claims on Title I Loans

The extension applies to loans that were current or less than 30 days past due as of March 1 and go into default before Nov. 30. Read More

FHA Launches Electronic Appraisal Delivery Module

Beginning Sept. 1, FHA lenders can submit appraisal reports and updates for FHA Single-Family Title II forward mortgages on the platform. Read More

FHA Giant Quicken (Rocket) Has a Blow-out Quarter

Rocket Companies, which controls Quicken, one of the largest FHA and VA funders, posted stellar earnings for 2Q20. The figure, however, is preliminary. Read More

OIG Alerts Borrowers of Fraudulent HECM Schemes

The IG urged borrowers to contact HUD to speak with a certified housing counselor before making a decision to pursue a reverse mortgage. Read More

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