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Items Tagged with 'Federal Housing Administration'

ARTICLES

Nonprofits take second to hedge funds on FHA loan sales

2 years into sales, little goes to communities
Brena Swanson
As hedge funds reap the benefits from the Federal Housing Administration’s sale of distressed loans, nonprofits are being pushed to the side, unable to compete.
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It's settled: Principal reduction is smart policy

How the BofA settlement opened the door
Christie Peale

For the first time, loans insured by the Federal Housing Administration will be eligible for principal reduction under the consumer relief menu in a major settlement. 


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FHA Commissioner Carol Galante to step down

Industry applauds her positive impact on housing
Brena Swanson
After years of helping the economy recover from the financial crisis through her role as commissioner at the Federal Housing Administration, Galante announced her decision to leave the U.S. Department of Housing and Urban Development. She will return to California to start teaching at the University of California, Berkeley in January.
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Fannie Mae earnings drop in second quarter

Reports $3.7B second-quarter net income
Brena Swanson
Fannie Mae recorded a net income of $3.7 billion for the second quarter of 2014. The decline from the prior quarter is primarily due to a decline in the amount of income recognized by the company from settlement agreements related to private-label mortgage-related securities.
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MBA: Jumbo loans drive mortgage credit availability

Continues slight upward trend
Brena Swanson
Mortgage credit availability maintained its slight upward trajectory in July as a boost in the number of jumbo adjustable rate mortgage programs pushed the index higher.
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NAR: Big banks exiting FHA loans is a "bad trend"

JPMorgan Chase debates stopping FHA-backed loans
Brena Swanson
Just as the Federal Housing Administration is celebrating its 80th anniversary, big banks are debating ending their lending relationships with the administration.
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Adding this one test could cut FHA default rates in half

Defaults are falling, but there’s room to improve
Ben Lane
In its Housing Finance Policy Center Commentary, the Urban Institute’s Laurie Goodman, Ellen Seidman and Jun Zhu write that the FHA should adopt a practice that the Veterans Administration uses when considering a borrower for a loan — the residual income test.
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Senate confirms Julián Castro as HUD Secretary

Senate votes 71-26 to approve Obama’s nominee
Ben Lane
Of note in the “no” votes was Senator Mike Crapo, R-Idaho, who co-authored the Johnson-Crapo housing finance reform legislation with Senator Tim Johnson, D-S.D., that is currently under consideration on the Senate floor.
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FBR: Make credit available or we won’t see $1 trillion in originations

Weak May and June continue to drag market down
Ben Lane
Nothing happens in this industry without mortgage originations. They’re the lifeblood of this industry. Without originations, there are no servicing rights available for purchase and there are no securitizations to invest in.
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Foreclosure fee investigation grows to 5 banks

Three more firms being investigated
Brena Swanson
As HousingWire readers were alerted last August, U.S. regulators are, in fact, expanding their investigation into different banks' charges connected with foreclosure actions.
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