The flow of refinance loans into the Ginnie MBS program dropped 9.2% in April. Still, year-to-date refi volume in the government-insured market was up a solid 54.4%. (Includes two data tables.)
A lender’s reconsideration of valuation process must include disclosure to the borrower at the point of a loan application and again when the borrower receives the appraisal.
The Biden administration’s fiscal year 2025 budget request allocates $72.6 billion for HUD, which is higher by about $500 million from the FY23 enacted level.
Improvements to the FHA home equity conversion mortgage program will help seniors maintain housing stability and financial security in retirement, according to Urban Institute’s Amalie Zinn.
Former Ginnie Mae President Alanna McCargo joins FHLB San Francisco; industry and consumer groups support VA supplemental rulemaking on IRRRL program; VA drafting rule on ARMs.
Farmer Mac President and CEO Brad Nordholm said he expects to see more business as lenders serving the rural market seek to manage their capital efficiencies, loan and deposit growth, and liquidity needs.
The guidelines lay out the process lenders must develop for borrowers to request an appraisal reassessment when they believe a valuation was inaccurate or biased.