The Department of Housing and Urban Development estimates that the Federal Housing Administration could help about 240,000 homeowners facing resets on their adjustable-rate mortgages avoid foreclosure."Of the 2 million loans expected to reset by the end of 2008, we estimate about 500,000 will actually foreclose," HUD Secretary Alphonso Jackson told the House Financial Services Committee. "Through FHA, we estimate that we can help about half those homeowners." The secretary noted that HUD can help these homeowners under its new FHASecure refinancing program. However, the FHA could help even more struggling homeowners if Congress passes FHA reform legislation, he said. HUD can be found on the Web at http://www.hud.gov.
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Agency activity dropped off by 4% in September while non-qualified mortgage issuance was down 18% in the third quarter versus the prior period, BTIG said.
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Developments like the downward swing in total jobs reported Friday, inflation and AI have made nonbank employment more complex and volatile this year.
October 2 -
Single-family mortgages originated with new scores have been put into private securitizations but these typically have been submitted alongside classic FICOs.
October 2 -
The collaboration comes after HUD issued several other updates earlier this year aimed at increasing affordability through loosened homebuilding policy.
October 2 -
Southeast impairments run 150 bps above other regions and alt-doc loans are up 200+ bps since 2025, while DSCR and full-doc improve. Time to review overlays.
October 2 -
Federal Reserve Gov. Lisa Cook said Thursday that private credit does not seem to pose additional risks to the financial system at the moment, but added that more information about the opaque market is needed.
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