Volume was up more in correspondent and wholesale-broker platforms, but retail continued to account for just over half of government-insured lending in the third quarter.
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United Wholesale Mortgage, a top-ranked government lender, will become public sometime next month. At least, that’s what the firm is planning. Meanwhile, the nonbank is being sued by a small group of loan brokers over commissions.
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FHA Chief Dana Wade believes a foreclosure crisis will not present itself in the near future due to FHA providing “so many” relief options to borrowers. Meanwhile, she suggested the MI be spun off from HUD.
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HUD could face challenges in ensuring that complete data is received from servicers regarding loans in forbearance, necessary for the processing of future claims.
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