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Inside FHA/VA Lending

March 24, 2023

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HECM Production Slumps Near End of Banner Year

The reverse-mortgage market was virtually glowing last year, with production increasing 24.6% to a whopping $29.65 billion. But much of that activity was front-loaded in the first six months. (Includes three data charts.) Read More

Retail Channel Takes Biggest Hit in 2022 FHA/VA Market

Originations of FHA and VA loans through the retail channel dropped a hefty 52.5% in 2022, allowing the correspondent channel to become the dominant source of government-insured lending. (Includes data chart.) Read More

Forbearance Dwindles But Still High for FHA/VA Loans

Although the share of Ginnie Mae loans in forbearance decreased to 1.28% in February from 1.37% the prior month, there are still concerns about FHA/VA loan performance. Read More

HUD Details Actions Against FHA Lenders in FY2022

The Department of Housing and Urban Development took actions against 65 FHA lenders last year for various program violations. Read More

CRL and AEI Suggest Home-Equity Loans for FHA, VA Borrowers

The Center for Responsible Lending and the American Enterprise Institute want FHA and VA to implement measures to discourage harmful cash-out refinancings. Read More

Lenders Ask HUD to Align Sec. 184 With FHA Program

The Mortgage Bankers Association recommended the Department of Housing and Urban Development publish its proposed Section 184 guidelines in a policy handbook similar to FHA’s rather than in a Code of Federal Regulation. Read More

VA Lowers Interest Rate on Native American Loan Program

The interest rate on VA’s Native American Direct Loan program has been lowered to 2.5% for the next two years. Read More

Around the Industry

The Biden administration’s fiscal 2024 budget request includes $61 million for Ginnie Mae; HUD proposes modernized flood mitigation standards; HUD reinstates 2013 discriminatory effects standard; HUD announces fair housing grants. Read More

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