Lakeview/Bayview Loan Servicing edged out Freedom Mortgage as the top servicer in the $2.1 trillion GNMA market. FHA delinquencies rose throughout the year, but the VA default rate remained subdued. (Includes four data charts.)
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By targeting price cuts at low-FICO score and high-LTV borrowers, the new pricing grids of Fannie Mae and Freddie Mac could increase market overlap with FHA.
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Only 23 lenders made streamlined VA refinance loans during the fourth quarter of 2022 as high interest rates have made the program nearly useless for veterans.
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One of the keys for lenders facing financial difficulties is to communicate early and often with Ginnie Mae, according to the agency’s chief risk officer.
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Trade groups recommended VA establish a permanent partial claim program that allows servicers to combine a partial claim with a loan modification for borrowers that need to reduce their monthly payments.
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The VA is adding a step to its appraisal bias detection procedures. Meanwhile, the National Association of Realtors told the agency not to rush its appraisal modernization efforts.
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The Farm Credit Administration is considering updates to the capital requirements for Farmer Mac, a government-chartered securitization company. The changes would be made to bring the rules up to date with recent changes at other agencies.
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Looser pooling requirements for delivering reperforming loans to Ginnie; FHA revises policy handbook; FHA updates instructions for use of GSE model forms; FHA hiring; VA revises various forms; VA offers loan review API; CHLA calls for permanent PTAP; RHS proposes loosening loss-mitigation standards.
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