Items Tagged with 'Federal Housing Administration'

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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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Guild Mortgage becomes DOJ's latest target over alleged FHA-lending violations

Lender says it plans to fight back against allegations of False Claims Act violations
Over the last several years, lenders like Wells Fargo, Franklin American Mortgage, Walter Investment, First Tennessee Bank, Freedom Mortgage and M&T Bank chose to settle with the Department of Justice after being accused of originating and underwriting mortgage loans that did not meet Federal Housing Administration standards. Now, Guild Mortgage is next on the DOJ’s hit list, but the lender says it plans to fight back.
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[video] Quicken Loans to HUD: You can't have it both ways

The future of FHA lending?
In the latest update on its fight with the government, Quicken Loans CEO Bill Emerson commented on a recent quote from Housing and Urban Development Secretary Julian Castro. To Quicken Loans, HUD can't ask for more people to lend as it decides to go after lenders for lending in the first place. Make sense?
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