FHA

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.

The vote was 51-50 in favor, with Vice President Kamala Harris breaking a tie as opposition by Republicans continued.

The borrower sent bogus documents to a settlement company claiming a $111K lien was satisfied to complete a sale.

Eleven other defendants participated in the elaborate scam, which led to approval of unqualified buyers and numerous defaults of FHA-backed mortgages.

The mortgage industry has long sought a reduction, which could make homes more affordable to entry-level buyers with limited incomes, but such a measure also would limit the agency’s claims-paying resources.

Monday’s release of FHA’s annual financial report has renewed calls to end its Life of Loan policy and cut annual premiums back down to pre-crisis levels, the executive director of the Community Home Lenders Association writes.

Republicans on the Senate Banking Committee objected to Biden administration picks for key jobs at the Department of Housing and Urban Development based on their past criticism of police practices. The nominees, including the prospective Federal Housing Administration chief, said their statements were taken out of context.