FHA

Overall, depository share has shrunk, but the major player, which had reduced its involvement, has been increasing it and recently shared some thoughts with a HUD official.

More incentives are coming for servicers as a greater number of distressed borrowers get expanded access to more affordable, streamlined modifications.

The range in the size of mortgages to be insured by the agency in 2023 runs between $472,030 to $1,089,300, while maximum claims on HECMs will similarly increase.

Delinquencies are on the rise for FHA-backed loans, with nearly 10% of low-credit borrowers in early payment default. Economists and policy experts say this could signal trouble ahead for other credit products.

But a cooling housing market opened up buying opportunities for some and helped drive the share of FHA-backed purchases upward for the first time in a year, according to new Attom research.

The agency is currently using upper ceilings set in the Housing and Economic Recovery Act of 2008.

But those looking for news about a possible reduction in the mortgage insurance premium are still waiting.

The Federal Housing Administration also announced it would incorporate similar borrower history into its underwriting beginning at the end of October.

In a letter addressed to the heads of the agency and of Ginnie Mae, the association asked them to consider recommendations made by a former government housing policy leader.

The way the Federal Housing Administration is funded and constrained by laws, rules and other operational limitations is analogous to the FHA living in the horse-and-buggy era in an age when we are starting to see driverless cars, writes the executive director of the Community Home Lenders Association.