Large banks had huge losses from originating mortgages in 2018 as costs were three times higher than similar-sized independent lenders, according to research conducted by Stratmor and the Mortgage Bankers Association.
The interpretation by HUD, conveyed in a letter to Congress by Assistant Secretary Len Wolfson, appeared to contradict the agency's earlier comments about borrowers in the Deferred Action for Childhood Arrivals program.
The industry welcomed a proposed overhaul of how the government identifies False Claims Act violations, but some say it remains to be seen if the changes are enough to satisfy companies that had bolted.
Two nonprofits threatened by the effort say the Department of Housing and Urban Development tried to avoid scrutiny last month when it announced the new policy outside the formal rulemaking process.
The Trump administration is cracking down on national affordable housing programs because of concern over growing risk to the government's almost $1.3 trillion portfolio of federally insured mortgages.
Agency concerned about the number of "risky" mortgages being approved; Brian Kelly, who runs The Points Guy website, can determine if a card succeeds or fails.
The Federal Housing Administration is returning to manual reviews of higher-risk loans it insures because it's finding that a growing share have lower credit scores, higher debt-to-income ratios, or both.
The Federal Housing Administration is moving forward with a long-delayed plan to reduce the term of the home warranty required for high loan-to-value mortgages on new houses.
The 2020 budget would add the Consumer Financial Protection Bureau and FSOC to congressional appropriations, charge lenders for FHA upgrades and require universities to have skin in the game on student loans.
The conventional market recaptured a lot of the first-time homebuyers it lost during the financial crisis, but service members instead have increasingly stuck with loans insured by the Department of Veterans Affairs.