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