Issuance of Ginnie Mae single-family mortgage-backed securities dropped 5.6% in November as refinances hit their lowest level in more than three years. (Includes two data charts.)
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Commissioner Julia Gordon said FHA is considering all the potential pieces of a mortgage insurance premium cut, including the upfront premium and the life-of-loan requirements.
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Finance of America has struck a deal to buy American Advisors Group, the nation’s largest HECM lender. Meanwhile, Reverse Mortgage Funding filed for bankruptcy and is in discussions to transfer its servicing platform to Longbridge Financial.
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The Office of Inspector General says the Department of Housing and Urban Development could realize a $19 billion savings if it implemented them all.
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The Mortgage Bankers Association and others in the mortgage lending and affordable housing communities commented on an FHA request for information on the challenges of small-balance mortgage lending.
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The Department of Housing and Urban Development wants to increase lender participation in its Section 184 program to meet increased borrower demand for housing financing on tribal trust lands.
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The legislation would give Native veterans more opportunities to purchase, refinance and renovate properties on tribal lands through VA’s Native American direct loans.
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FHA announces 2023 loan limits; VA circular describes interplay of conforming loan limits and VA entitlement; Ginnie makes VA lending recommendations; Ginnie offers new flexibilities for issuer financial eligibility requirements; FHA extends temporary loss-mitigation waivers; HUD IG issues reverse mortgage scam warning.
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The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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