Senate banking committee passes massive regulatory relief bill

Senate banking committee passes massive regulatory relief bill

Big implications in legislation for housing and mortgage finance

Existing home sales crater in April, falling 3.3%

Spring buying stalls out after strong March performance

It's official: NYDFS Superintendent Ben Lawsky stepping down

4 years as leader of “long reach” New York financial regulator
W S

Items Tagged with 'FHA'

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.
Read More

Changes in FHA multifamily lending requirements squeeze lenders, owners

Pressure trickles down into rent increases in affordable units
Trey Garrison
Recent FHA changes to the reserve requirements for multifamily lenders are putting the squeeze on apartment owners at the nexus of stagnant wages, rising rents, and a shortage of affordable rental housing. Here's why it's bad for the very people FHA is supposed to be helping.
Read More

FHA beefs up foreclosure prevention initiatives

Housing advocates applaud changes to HUD’s distressed asset program
Trey Garrison
The FHA and HUD are taking steps to amp up foreclosure prevention, and some housing advocates like what they’re hearing.
Read More

First-time buyer GSE mortgage loans are getting far riskier

Risk index for agency mortgages for new buyers at series high
Trey Garrison
Agency loans for first-time buyers are as risky as they’ve been since the AEI started tracking mortgage risk. With pressure on to loosen credit standards even more, are you worried?
Read More

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.”
Read More

Fannie Mae: Lenders expect boost from GSE 97% LTV products

Plus additional benefit from FHA mortgage premium insurance cut
Trey Garrison
The latest lender sentiment survey from Fannie Mae shows that mortgage lenders expect they will get a boost in business from changes at the GSEs and at FHA. Here’s what they think.
Read More

Is it really risky business at Fannie, Freddie?

Viable alternatives or the same old mistakes?
Trey Garrison
A little risk in life is a good thing, and everyone deserves a chance to prove they can do better than they have. But some say the housing policies being pursued may sound awfully familiar. Maybe, just maybe, the GSE are on to something good.
Read More

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.
Read More

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.
Read More

Settlement agent convicted in multimillion-dollar real estate fraud scheme

Bogus loans defrauded FHA, then sold to Fannie, Freddie
Trey Garrison
A real estate professional was convicted in a multimillion-dollar real estate scheme involving bogus loans that ended up being sold to Fannie Mae and Freddie Mac. Here’s the rap sheet.
Read More