House appropriators have attached a provision to the Department of Housing and Urban Development budget bill that raises the Federal Housing Administration single-family loan limit to the conforming loan limit in high-cost areas.The conforming loan limit is currently $417,000. It is understood that the HUD appropriations bill for fiscal year 2008 also raises the FHA single-family loan limit to 65% of the CLL in low-cost areas. In all other areas, the FHA loan limit would be determined by the median house price. The HUD-Transportation appropriations subcommittee approved the HUD budget during a mark-up June 11. The House Finance Services Committee recently approved similar increases in the FHA loan limit as part of an FHA reform bill (H.R. 1852). The HUD fiscal 2008 appropriations bill also suspends for one year a cap on the number of reverse mortgages the FHA can insure.
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Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
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The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
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Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
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Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
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Better's home equity loan product can be originated in a week or less, the company says.
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The top five producers had an average dollar loan volume of more than $140 million in 2023.
April 23