Items Tagged with 'Department of Housing and Urban Development'

ARTICLES

Housing starts begin year slightly lower

News comes after record 2016
While last year posted the best year for housing starts since 2007, this year didn't quite keep up the trend. Looking at the latest release from the U.S. Census Bureau and the Department of Housing and Urban Development, housing starts began the year off slightly down.
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"Rocket Mod": The future of mortgage default servicing?

How technology will change loss mitigation
Over the last few years, technological advancements took mortgage originations from the fax machine to the smartphone — and from months of waiting to approval in minutes. Could the same thing be coming for mortgage modifications?
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A private mortgage insurer’s view on the FHA mortgage insurance premium suspension

Genworth: What is it the government’s role in mortgage insurance?
When the Department of Housing and Urban Development announced it suspended the reduction of FHA mortgage insurance premiums, it helped the private mortgage insurance market retain $10 billion in volume. Duane Duncan, head of Government relations at Genworth, gave an inside perspective of how the move impacts the private sector, whether it's reenacted or forever off the table.
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New home sales drop more than 10% in December

Actually up 12% for 2016
Following the drop witnessed earlier this week in existing home sales, new home sales followed suite and dropped in December. However, performance was still up for the year as 2016 saw an increase in new home sales by more than 12%.
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Industry reacts: Is Trump's suspension of FHA mortgage insurance premium cut good or bad?

Suspended indefinitely
The Department of Housing and Urban Development’s decision to suspend the reduction of Federal Housing Administration mortgage insurance premiums didn’t come as a shocker. But while the industry knew the uncertainty surrounding the situation, they’re left divided on the issue. How much disruption will this delay cause?
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HUD suspends FHA mortgage insurance premium cut

Just after Trump officially took office
Just moments after President Trump was sworn in on Friday, the Department of Housing and Urban Development announced it is indefinitely suspending the reduction of FHA mortgage insurance premiums, undoing a cut announced by the Obama administration only a few weeks ago. The suspension is effective immediately.
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Housing starts hit best year since 2007

December makes up grounds lost in previous month
December made up for some of its lost ground in November with an increase in housing starts. In fact, 2016 finished off the year as the best year for housing starts since 2007. However, the market remains in desperate need of new housing stock.
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Sources: Trump plans repeal of FHA mortgage insurance premium cut

Will it be a delay or an indefinite delay?
With President-elect Trump’s inauguration mere hours away, it appears that the Trump administration will do more than just “examine” the FHA premium cut once Trump is sworn on. According to multiple sources, the FHA premium cut, which is currently scheduled to go into effect on January 27, will be delayed, if not done away with entirely, by the incoming Trump administration.
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