FHA

The Federal Housing Finance Agency is considering bringing back the idea of imposing stricter criteria for purchasing mortgages in areas where residential Property Assessed Clean Energy financing is available.

With most U.S. households spending more and paying their bills on time, their creditors are feeling more confident than ever.

Loan applications to purchase newly constructed homes rose over one-third annually during December as new residential construction recovered, according to the Mortgage Bankers Association.

A Virginia Beach, Va., real estate broker was sentenced to 13 months in prison for secretly purchasing foreclosed properties the Department of Housing and Urban Development hired him to sell.

Mortgage application activity increased 30.2% from one week earlier as purchases were at their highest level in over a decade along with substantial growth in refinancings, according to the Mortgage Bankers Association.

The fact that the more operationally skilled nonbanks have come to specialize in government mortgages is hardly surprising if you assess the cost to originate and service these loans.

Despite changes by the Federal Housing Administration, bankers remain reluctant to join the program for fear of legal liability. But that could change if it revamps servicing processes, experts say.

While the refinancing boom took a step back, millennials purchasing power grows in the low mortgage rate environment, according to Ellie Mae.

Federal Housing Finance Agency Director Mark Calabria discussed the possibility of having Fannie Mae and Freddie Mac operate under a consent order to allow the government-sponsored enterprises to be able to raise capital.

Mortgage applications decreased 1.5% on a seasonally adjusted basis from two weeks earlier amid the annual end-of-year slowdown despite lower rates from global tensions, according to the Mortgage Bankers Association.

The nomination deadline for the 2020 Top Producers program is coming up soon.

The Federal Housing Administration has implemented defect taxonomy revisions for 2020 that it considers one of several milestone achievements in its efforts to "provide greater clarity and consistency for lenders.”

A trade group is looking into why New York Gov. Andrew Cuomo felt foreclosure risks were too high to sign a bill that would have approved reverse mortgages for cooperative properties.

Mortgage applications decreased 5.3% on a seasonally adjusted basis from one week earlier led by a decline in conventional refinance loan demand, according to the Mortgage Bankers Association.

Now is not the time for the government to cut Federal Housing Administration premiums and enter new segments of the housing market.

The critical defect rate for closed mortgage loans continued its decline in the second quarter, as lenders benefited from increased loan volume and profitability, an Aces Risk Management study found.

Finance of America Reverse has launched a revolving credit line product that allows borrowing power to increase over time by allowing 75% of funds to grow for future use.

Mortgage applications decreased 5% from one week earlier as, absent any rate incentive, activity slowed because of the holiday season, according to the Mortgage Bankers Association.

Even with an increase in both new and existing home construction activity during November, the slowdown over the previous 11 months will constrain inventory going into 2020, according to BuildFax.

Mortgage lenders became slightly bearish on their profitability outlook in the fourth quarter, with the competitive landscape and shift to a purchase market cited as the main concerns, according to Fannie Mae.