Government-backed originations increased in the second quarter thanks to a seasonal boost in purchase mortgages. FHA production outpaced VA lending, and the top lenders largely increased originations. (Includes three data charts.)
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Federal housing agencies are directing mortgage servicers to instate a moratorium on foreclosures for homeowners affected by the Maui wildfires.
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Without additional funding support, nonbanks don’t have options to fund servicing advances for loans that are 90 or more days past due, former Ginnie Mae President Ted Tozer said.
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Loan removals from Ginnie MBS increased in the second quarter of 2023. Removals are largely tied to loan payoffs, though there are some variations among servicers. (Includes data chart.)
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The trade group suggested HUD streamline property valuation data for HECMs through a waterfall of appraisal options that could eliminate the need for a second appraisal in some cases.
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HUD extends public benefits program comment period by 30 days; FHA seeks director of single-family program development; CFPB fines a top VA lender.
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