A rise in interest rates around the beginning of the year suppressed refi volume to some extent. PennyMac was the top Ginnie issuer of both FHA and VA mortgages in the first quarter. (Includes four data tables.)
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The elimination of eligibility of non-permanent U.S. residents for FHA loans could leave FHA lenders liable for mistakes made when certifying a borrower’s residency status.
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Previously-fired probationary employees at HUD are stuck in an administrative leave purgatory awaiting a court decision, while rumors continue to circulate of field-office closures.
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FHA should limit borrowers to qualify for one permanent home-retention option every 18 months to cut costs to its insurance fund and help borrowers maintain equity, MBA and others said in a letter to HUD.
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HECM lending increased by 5.3% on a quarterly basis in the fourth quarter of 2024. But for the full year, endorsements declined, with a downturn in production in four major states. (Includes three data tables.)
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Court rules in favor of Ginnie in Texas Capital Bank lawsuit; Rate waives “unnecessary fees” for VA loans; FHA waives reviews of EPD in disaster area; HUD revokes lender’s DE authority in New Orleans.
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The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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