FHA and VA originations in the fourth quarter of 2022 were the lowest since early 2019. The VA’s IRRRL program was practically wiped out, while HECMs were the least bleak corner of the market. (Includes three data charts.)
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FHA is cutting annual mortgage insurance premiums, effective March 20. Lenders are seeking operational clarity on loans already in the origination pipeline.
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Federal housing agencies will continue to collaborate on loss-mitigation options following their teamwork when responding to the COVID-19 pandemic.
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Ginnie Mae has reduced the required minimum size for mortgage-backed securities pools with home-equity conversion mortgages from $1.0 million to $250,000.
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FHA is taking comments through April 17 on a request for information on the barriers consumers and lenders face in accessing the FHA 203(k) rehabilitation mortgage program.
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The Department of Housing and Urban Development announced an agreement with Louisiana that will free borrowers from debt related to a program meant to mitigate against hurricane risk post Katrina.
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FHA to discontinue paper claims option; VA updates loan fees; Mortgage Bankers Association seeks Congressional action on multifamily housing; FHA corrects mortgagee letter on expanded loss-mitigation options; USDA maintains appraisal fee; HUD updates civil monetary penalties.
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