The correspondent channel’s share of government-insured lending increased in the second quarter, but it was still down on a year-to-date basis from the first half of 2023. (Includes data table.)
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At a conference on regulatory compliance and risk management this week, industry executives and government officials reiterated the importance of collaborating on policy to adapt to changes in the housing market.
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Housing counseling agencies should increase training on home equity conversion mortgages to accommodate the rise in older Americans who want to age in place, according to FHA Commissioner Julia Gordon.
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In July, FHA proposed a new rule governing the sale of seriously delinquent single-family home loans when they’re no longer insured by the agency.
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VA clarified when lenders must provide invoices itemizing fees and charges for borrowers, and updated its state fees and charges deviations list.
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The final rule is effective Oct. 16 and is unchanged from a proposal released by the Department of Housing and Urban Development in October 2023.
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The draft mortgagee letter outlines guidance on a federal flood risk management standard related to minimum property requirements for newly built residential structures in special flood hazard areas.
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Congress passes continuing resolution to fund the federal government and the National Flood Insurance Program; Sen. Tim Scott introduces Renewing Opportunity in the American Dream to Housing Act; trade groups ask FHA to extend waiver on policy updates related to in-person meeting requirement with borrowers in default; the Department of Justice has announced a $2.4 million settlement with shuttered FHA HECM lender.
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