The Federal Housing Administration this week announced updates to its Single Family Housing Policy Handbook 4000.1 that address servicing and loss mitigation. The updates include a revised loss mitigation home retention “waterfall,” which helps servicers quickly offer effective loss mitigation offers to borrowers, streamlined documentation requirements and a revised structure for certain allowable costs and fees that corresponds with fee structures used by other industry participants.
Mortgage rates inch down
The rate for a 30-year fixed-rate mortgage was 7.18% this week. The rate for a 15-year fixed-rate mortgage was 6.57%.








