Securitization of modified loans was a significant factor in the FHA reclaiming its traditional role as top guarantor of loans in new Ginnie MBS. PennyMac and Wells Fargo dominate the loan-mod sector. (Includes four data charts.)
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During her Senate confirmation hearing, Alanna McCargo, the nominee for Ginnie Mae president, pledged to ensure loss-mitigation tools remain protective as borrowers continue to exit forbearance programs.
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FHA extended forbearance by another six months on recent additions to the recovery program and proposed a 40-year loan modification as a loss-mitigation option.
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The Government Accountability Office warned the FHA Catalyst technology modernization program faces an increased risk of outspending its planned $91.9 million budget.
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HUD releases climate adoption and resilience plan; FHA seeks feedback on HECM-related changes to its single-family housing policy handbook; HUD awards loan servicing contract; FHA is hiring.
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