After falling below $100 billion in each of the previous two periods, Ginnie Mae issuance turned a corner in the second quarter. But volume is still far off the numbers for most of the past four years. (Includes four data charts.)
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The proposed program could be improved by simplifying communications with borrowers and making changes that expand the number of borrowers who can be helped, industry and consumer groups said.
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Allowing lenders to provide downpayment assistance on FHA loans would extend homeownership to underserved borrowers who have a difficult time amassing even a 3.5% downpayment, the former Ginnie Mae president said.
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Department of Housing and Urban Development programs would be funded at much lower levels than those called for in President Biden’s budget proposal under a fiscal 2024 bill introduced in the House this week.
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Lenders have new obligations to the FHA when they default on making home equity conversion mortgage disbursements, according to a policy finalized this week.
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USDA deputy secretary confirmed; HUD seeks comments on burdens facing FHA lenders in maintaining eligibility; Ginnie Mae expands LMI disclosure initiative; and more.
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