For the first time since late 2019, purchase-mortgage endorsements exceeded new refinance loans in the FHA/VA market. And FHA narrowed the gap between the two programs. (Includes three data charts.)
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While lenders contend lower FHA insurance premiums will help attract more borrowers, FHA wants to protect the resiliency of its program. (Includes data chart.)
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Private mortgage insurers, who compete with the FHA to a certain extent, applauded the agency’s “disciplined approach” to premium pricing and policies.
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In an effort to reinforce its commitment against racial bias in home valuations, FHA updated its general appraiser requirements. An interagency task force discussed the issue this week.
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Spouses and children of Black World War II veterans who were shut out of the VA home loan program would be eligible under new legislation introduced this month.
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House passes Build Back Better bill; lenders can send electronic submissions of multifamily mortgage applications in the FHA Catalyst; HUD will sell multiple pools of vacant properties from FHA’s reverse mortgage program; FHA announces job openings; the USDA appoints new administrator to the RHS.
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