VA lending took the brunt of the 3Q22 downturn as its streamlined refinance business all but disappeared. Meanwhile, UWM overtook Rocket in the FHA market. (Includes three data charts.)
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Industry stakeholders once again called for cuts to FHA’s mortgage insurance premium last week after the agency announced a record high capital ratio for its Mutual Mortgage Insurance Fund. (Includes data chart.)
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New loss-mitigation techniques helped reduce the FHA serious delinquency rate to 4.77% by the end of fiscal 2022, according to the Mutual Mortgage Insurance Fund report released last week.
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All 10 of the top management challenges facing the Department of Housing and Urban Development last year, including mitigating counterparty risk to mortgage programs, remain, the HUD Inspector General reported last week.
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Leaving the choice of index to the noteholder could lead to volatile payment amounts and default for the borrower as well as problems for FHA’s Mutual Mortgage Insurance Fund, the group says.
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FHA moves away from the Catalyst Electronic Appraisal Delivery module; the Mortgage Bankers Association asks the Senate Finance Committee to make the mortgage insurance premium tax deduction permanent; and more.
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Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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