5 comments

jim spicka July 1, 2013 at 10:26 am

Shannon
When will Q2 funding and endorsement data be available?
With HUD’s recent debut of their newsletter “Lender Insight” and the startling statistics they revealed I can’t help but wonder how our industry got so out of sync with HUD’s regulatory and compliance expectations and wonder how this will all weigh on future endorsements. They indicated that 13 percent of loans submitted for endorsement were “unacceptable”. Do those become “portfolio’ loans or are most of them repaired to HUD’s satisfaction and subsequently endorsed?

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Shannon Hicks July 1, 2013 at 10:33 am

Jim,

Excellent questions. Let me ask around. When I find an answer I will most certainly post it here.

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James E. Veale, CPA, MBT July 1, 2013 at 11:12 am

Mr. Spicka,

Very interesting.

Can you please provide the webpage on the HUD website where we can subscribe to this new newsletter?

Thanks.

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The_Cynic July 2, 2013 at 10:46 am

Jim,

The endorsements through the second quarter are out, aren’t they? What are you looking for?

What source do you have as to fundings?

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James E. Veale, CPA, MBT July 1, 2013 at 4:56 pm

We are now beginning to see two clear industry leaders each with over 4,000 originations year-to-date. The next three can be grouped together with over 2,100 originations year-to-date each with the next two with over 1,400 each year-to-date.

It may be awhile until the leader picture gets more settled as the endorsement of fixed rate Standards goes still lower over time. Then looming over the horizon are the alternative pending changes HUD is proposing. (The alternatives are dependent on when (and if) Congress enacts new law to give HUD the choice.)

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