FHA

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.

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.

The Federal Housing Administration, the agency that oversees government-sponsored enterprises Fannie Mae and Freddie Mac, and the VA extended additional relief to those living in single-family rental, real-estate owned properties.

The Mortgage Bankers Association is advocating for more funding for the agency due to its elevated securitization activity, and counterparty risk linked to a lingering concentration of loans in forbearance.

Identifying where payment stress is concentrated could help mortgage servicers and federal policymakers prepare for the broader range of loan workouts that will resume this summer.

The ruling confirms that a state precedent regarding forward mortgages also applies to home equity conversion loans.

Gordon is currently president of the National Community Stabilization Trust, a nonprofit organization that promotes neighborhood revitalization and housing affordability.

The new calculation of borrowers’ monthly obligations will allow for a higher debt load from tuition, potentially opening eligibility to more Black applicants, according to public officials.

Between terms as Federal Housing Commissioner — where he oversaw Radian's government-run competitor — he served on the private mortgage insurer's board.

But private mortgage insurers should not see significant impact on business if a 25 basis point reduction were to occur sometime after 2021, according to BTIG.

Although the Federal Housing Administration's insurance fund is "well above" its legal minimum, HUD Secretary Marcia Fudge said the mortgage agency has no plans to cut prices.