FHA

The Federal Housing Administration's demonstration project would allow payments to be deferred without placing a subordinate lien on a primary mortgage.

As written, new capital standards for U.S. banks fail to account for the additional risk posed by many home loan clients who obtain second mortgages. Fixing the problem will significantly reduce the rule's benefit to banks.

Total application volume fell by over 13.000 units on a month-to-month basis, with declines in purchase and refinance activity, Keefe, Bruyette & Woods said.

The Department of Housing and Urban Development got 67 responses to its request for information regarding the FHA program's Minimum Property Requirements.

There's broad support for the effort to reduce costs and processes, but the Appraisal Institute warns about reducing property valuation quality control checks.

A further reduction in single-family premiums is "definitely something to look at," said Frank Cassidy, who slashed some for multifamily while at HUD.

The announcement follows a leave of absence in which Ginnie Mae President Joe Gormley helped cover the Federal Housing Admission Commissioner's responsibilities.

The FHA published a request for information in the Federal Register Friday, looking for stakeholder comment on how to improve and modernize property standards.

Delinquencies among recent FHA originations are showing up alongside a notable volume of subordinate liens carried by the borrowers.

These originators had the highest combined volume of Federal Housing Administration, Veterans Affairs and U.S. Department of Agriculture mortgages last year.

"In looking at eight currently available proprietary RM products, there is a distinct relationship between HECM growth rates and proprietary product availability," Reverse Market Insight said.

The president of an affiliate mortgage securitization guarantor is taking on the responsibilities associated with the Federal Housing Administration role.

HECM endorsements rose 16% in March to 2,117 loans, but monthly volumes remain near their slowest pace since last summer as proprietary reverse products quietly steal market share.

Mutual of Omaha, Finance of America and Longbridge Financial rank at the top of HECM endorsements over the past 12 months, Reverse Market Insight reported.

The Mortgage Bankers Association is examining the data to see if the high ratio warrants a new push for a premium cut but said rising arrears call for caution.

The move formalizes acting leadership roles both have had in different segments of the government-backed mortgage market serving many first-time homebuyers.

The Department of Housing and Urban Development announced the FHA-insured loan caps for low- and high-cost areas, which are set based on conforming loan limits.

Years ago, the Federal Housing Administration helped finance thousands of loans for manufactured housing. An effort to restart that program would help millions of Americans afford their own homes.

Frank Cassidy, who is currently principal deputy assistant secretary at the Department of Housing and Urban Development, will soon face a full Senate vote.

FHA loans accounted for about half of the annual rise in foreclosure starts and 80% of the rise in active foreclosures in September, according to ICE.