Items Tagged with 'Federal Housing Administration'

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FHA to begin insuring mortgages with PACE loans

No super priority loans allowed
The Federal Housing Administration will soon begin insuring mortgages that also carry liens created by energy retrofit programs, as long as the energy lien remains subordinate to the mortgage, the Department of Housing and Urban Development announced Tuesday. Here are all the details.
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Study: Recent changes to reverse mortgage rules cut default risk in half

New report from Center for Retirement Research at Boston College lauds HECM program
A new study from the Center for Retirement Research at Boston College states that recent changes made to the rules governing reverse mortgages, specifically those that are part of the government's Home Equity Conversion Mortgages program, will dramatically cut the risk of default for borrowers.
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Condo legislation passes in Senate, offers relief for homebuyers

Headed to president's desk
The Senate just unanimously passed a bill to help solve the affordability crisis. The condo bill passed the House back in February, and now just awaits President Obama's signature to become law. The National Association of Realtors lobbied heavily for the reform and says the new condo legislation will provide homebuyers with a more affordable option.
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Republicans demand answers from HUD's Castro on FHA non-performing loan sales

Hensarling calls for Castro to appear before House Financial Services Committee
Last week, HUD and the FHA announced the "most significant improvements to date" to its non-performing loan sales program. But House Financial Services Committee Chairman Jeb Hensarling, R-TX, is less than impressed with those changes, going so far as to question HUD, the FHA, and HUD Secretary Julián Castro's motivations for making the changes.
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New York launches "first of its kind" program; will buy delinquent mortgages from FHA

NYC set to buy loans to keep homeowners out of foreclosure
In what officials are calling a "first of its kind" program, the city of New York announced Thursday that it is plans to buy a number of delinquent loans from the Federal Housing Administration as part of an effort to keep struggling homeowners from losing their homes to foreclosure. Here are all the details.
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FHA announces sweeping changes to non-performing loan sales program

Buyers must now offer principal reduction, "payment shock protection"
Amidst mounting public pressure to do more to keep struggling homeowners in their homes, the Department of Housing and Urban Development and the Federal Housing Administration announced a series of extensive changes to its non-performing loan sale program. Here are all the details.
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MGIC CEO questions the role of the FHA

Is this right for the mortgage insurance industry?
As discussions around GSE reform and possible reductions in mortgage insurance premiums at the Federal Housing Administration start to reach a boiling point, Patrick Sinks, president and CEO of private mortgage insurer MGIC, posted a blog on the company’s website to get one important factor straight in the discussion.
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Is the FHA about to cut mortgage insurance premiums again?

Compass Point analysts set odds of additional cut at 60%
The effect of last year's FHA premium cut was widespread and significant, as the FHA’s mortgage insurance business exploded in 2015. But is the FHA about to do it again? That’s the scuttlebutt around Washington, according to analysts from Compass Point Research & Trading, and the noise surrounding another cut is apparently getting louder.
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