The Federal Housing Administration is expanding its approved lending areas to include groups of states so that lenders can operate nationwide with only 13 branch offices.Currently, lenders have to have a minimum of 25 registered offices to originate FHA loans in all 50 states. "If the mortgagee only wants to originate in the 48 continental states and the District of Columbia, this number can be reduced to as few as 10 offices in some instances, according to an FHA lender letter. The mortgagee letter (2005-40) also allows FHA lenders to operate nationwide via the Internet or call centers through one registered office. "Each mortgagee will be limited to only one branch ID number for its direct nationwide lending operation," the mortgagee letter says.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
56m ago -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
1h ago -
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
1h ago -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
3h ago -
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25