Declining interest rates through September helped increase the flow of both purchase mortgages and refinances into Ginnie MBS in November. Issuance increased by 10.1% on a monthly basis, and growth in FHA refi business outpaced VA refi activity. (Includes two data tables.)
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Industry stakeholders have largely applauded the nomination of Scott Turner as secretary of the Department of Housing and Urban Development, citing his experience and leadership.
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The draft standards differ based on whether borrowers can resume their original mortgage payments or need payment relief. Comments on the proposal are due Dec. 23.
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FHA Commissioner Julia Gordon said it is critical the government invest in existing homes, given that more than 40% of single-family homes are more than 50 years old.
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HUD announces 2025 loan limits; FHA finalizes cyber incident reporting requirement updates; UWM removes LLPA for government loans; and more news in brief.
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