Housing in places like New York, San Francisco fail more than just the locals

Caution: GSE reform could have serious unintended consequences

Guest blog by former Ginnie Mae president Joseph Murin

Monday Morning Cup of Coffee: Time to cut the MLS cord?

Plus housing metrics, the incredible shrinking GDP, and kicks are for TRIDs
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Items Tagged with 'Federal Housing Administration'

ARTICLES

Veros now offers first direct connection to FHA appraisal portal

Will allow lenders to send appraisals through Veros’ software
Ben Lane
Veros Real Estate Solutions, which already serves as the vendor for the Federal Housing Administration’s electronic portal for appraisal reports and data submissions, announced Monday that it is implementing a direct connection to the portal, which will allow for electronic appraisal submissions through Veros’ proprietary product, Pathway.
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Parkside Lending begins offering FHA loans

Opens the door for more qualified borrowers
Brena Swanson
Parkside Lending is now offering Federal Housing Administration loans, helping the lender reach a larger percentage of its clients and broaden homeownership opportunities for qualified borrowers.
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U.S. sues Quicken Loans for FHA loan violations

DOJ accuses lender of improperly originating and underwriting FHA mortgages
Trey Garrison and Ben Lane
The United States government is suing Quicken Loans, accusing the lender of improperly originating and underwriting loans that were insured by the Federal Housing Administration. According to an announcement from the Department of Justice, the government alleges that from September 2007 through December 2011, Quicken “knowingly submitted, or caused the submission of, claims for hundreds of improperly underwritten FHA-insured loans.”
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The reverse mortgage gets a facelift

A positive for seniors
Phil Stevenson
In the upcoming weeks, reverse mortgages will be going through changes that will provide a much-needed facelift in the public eye, bringing some value back into the system. And one of the biggest impacts will be for homeowners threatened by bankruptcy or foreclosure.
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Carrington expands FHA mortgage lending offerings

Now offering FHA 203k full renovation loans through wholesale channel
Ben Lane
Carrington’s new 203k full renovation loan program lets borrowers take out a single loan to finance both the cost of buying the home and the renovation costs, Carrington said in a release.
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Feds bust massive mortgage fraud scheme

Leader sent to prison for almost 5 years, ordered to repay $2.5 million
Ben Lane
A former real estate agent will spend the next 57 months in prison after being convicted of conspiracy to commit wire fraud and aggravated identity theft, stemming from a massive residential mortgage fraud scheme that defrauded lenders, the Federal Housing Administration, Fannie Mae, and Freddie Mac of nearly $2.5 million.
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1st Alliance Lending launches mortgage program for underserved borrowers

Expands access to lending with multi-channel program
Ben Lane
1st Alliance Lending is launching a new national mortgage lending platform in an effort to spur lending for “underserved borrowers who are seeking to overcome past credit challenges and purchase a home,” the company said in a release.
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MetLife Home Loans to pay $123.5M in mortgage resolution

Admitted it knowingly made faulty mortgages
Brena Swanson
MetLife Home Loans agreed to pay $123.5 million, after it admitted it had been aware that a substantial percentage of loans weren’t eligible for FHA mortgage insurance due to its own internal quality-control findings.
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Mr. Castro went to Washington…and it was pointless

Republicans batter HUD secretary with bluster but offer no solutions
Ben Lane
Maybe it was naïve of me, but I truly thought that a hearing titled, “The Future of Housing in America: Oversight of the Federal Housing Administration,” hosted by the House of Representatives Committee on Financial Services and featuring HUD Secretary Julián Castro would actually, you know, accomplish something…anything. But I was so incredibly wrong.
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FHA attempts to change rules to spur lending

Looks to loosen mortgage lending
Brena Swanson
The Federal Housing Administration is looking into limiting one of the most powerful tools federal attorneys have to punish banks for making mistakes in mortgage lending in attempts to spur lending from banks.
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