HUD

Michael Bright is resigning as acting president of Ginnie Mae to run the Structured Finance Industry Group, a trade association that's been without a CEO since Richard Johns resigned in July amid a reported split with the group's board.

Acting Ginnie Mae President Michael Bright will leave his post on Jan. 16 and will no longer seek confirmation to be the permanent head of the mortgage secondary market agency.

The agency wants mortgage servicers to extend special forbearance plans to those affected by the partial government shutdown and evaluate borrowers for loss-mitigation options.

Borrowers and financial institutions may be feeling the strain from reduced operations at the FHA and IRS, which has suspended the release of certain income documentation during the budget impasse.

The current deputy secretary of the Department of Housing and Urban Development, Pam Patenaude, will step down in January.

The Democrat, who will likely head the Financial Services Committee, has signaled she'll make expanded housing opportunities for lower-income consumers a top priority.

The Trump administration should consider putting much of the subsidized mortgage lending done by the federal government under the government-sponsored enterprises to improve efficiency and transparency.

The mortgage insurer’s annual actuarial report showed strength in the agency’s capital reserves even though losses in the “home equity conversion mortgage” program are still a problem.

As the Federal Housing Administration prepares to release its annual actuarial report this month, the industry is questioning how the reverse mortgage program fits into the agency's future.

The Federal Housing Administration is making it easier for reverse mortgage servicers to submit insurance claims by expanding the types of supporting documentation it will accept on defaulted loans.