HUD

The agency will charge higher upfront premiums for most Home Equity Conversion Mortgage borrowers while lowering the annual premium.

PHH Corp. will pay the Justice Department $75 million to settle a False Claims Act investigation of its underwriting practices on government-insured mortgages and loans sold to Fannie Mae and Freddie Mac.

The Trump administration's Justice Department was expected to be less aggressive in its pursuit of False Claims Act cases against the mortgage industry. Instead, its focus has shifted to Federal Housing Administration-insured reverse mortgages.

While HUD has released money this year, the Trump administration has called for defunding the program as part of its proposed budget.

The HUD secretary said millennials are being shut out of the market but the purchase of a condominium unit is often the first step to homeownership.