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Inside FHA/VA Lending

January 13, 2023

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PennyMac Leads Ginnie Issuers as Bottom Falls Out

PennyMac led all categories in Ginnie Mae issuance as the downward trend continued in the sector, which produced its most disappointing results in three years. (Includes five data charts.) Read More

FHA Faces Calls to Revise HECM Policies Following RMF Failure

If the largest servicer of HECMs couldn’t handle the financial burden posed by mandatory buyouts of the loans, what hope is there for others? FHA is being urged to make changes to HECM policies. (Includes data chart.) Read More

A Head Scratcher: HUD OIG Drops a Dime, DOJ Says No

A Ginnie SVP allegedly leaked information regarding an agency issuer to a private-sector firm, breaking the rules. A referral was made to the DOJ, but nothing ever came of it. Details? There aren’t many. Read More

Lenders Request More Seasoning Flexibility for IRRRLs

Proposed updates to rules governing VA interest rate reduction refinance loans drew asks from VA lenders and trade groups around loosening eligibility requirements for borrowers to maintain access to the product. (Includes data chart.) Read More

Spending Bill Boosts Housing-Related Funding for 2023

A last-minute budget deal resulted in funding increases for many HUD housing-related programs. Read More

FHA Issues Draft Policy on Appraisal Reviews Requests

The proposal outlines the process and documentation requirements related to a borrower’s request for a review of their appraisal results. Read More

Servicing Changes Top Regulatory Agendas at FHA, VA

A proposal to streamline servicing and claim requirements for FHA mortgages is in the works, along with expanded loss-mitigation options for VA servicers. VA also plans to issue a final rule on cash-out refis. Read More

Around the Industry

Outlook for Wells’ participation in FHA market unclear; Biden signs legislation to improve VA appraisals; MBA calls for higher fee on mortgage assumptions; VA revises forms; FHA hosting webinar on quality assurance; Rural Housing Service updates program guidelines. Read More

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