Items Tagged with 'FHA mortgage'

ARTICLES

  • Watchdog: FHA incorrectly insured $1.9 billion in mortgages in 2016

    HUD-OIG report finds FHA insured nearly 10,000 ineligible borrowers
    A new report from a federal watchdog finds that the Federal Housing Administration incorrectly insured approximately $1.9 billion worth of mortgages in 2016. The new report, which was published recently by the Department of Housing and Urban Development Office of Inspector General, found that in 2016, the FHA insured an estimated 9,507 borrowers who were actually ineligible for FHA insurance.
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  • No FHA premium cut coming; Flagship insurance fund falls in 2017

    Capital ratio still above Congressionally mandated threshold, but falls from 2016
    The thought that the Department of Housing and Urban Development would announce a cut to Federal Housing Administration mortgage insurance premiums appears to have been just that – a fleeting thought. HUD announced Wednesday that premiums will not be cut, due in part to the weaker-than-expected performance of the FHA’s flagship insurance fund.
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  • HUD bans Seckel Capital for falsifying FHA lending docs

    Company owner John Seckel also suspended from doing business with government
    Pennsylvania-based mortgage lender Seckel Capital will no longer be allowed to originate or underwrite Federal Housing Administration mortgages after an investigation from the Department of Housing and Urban Development found that the company repeatedly lied to the FHA about its financials.
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  • Realtors ask Trump to reinstate FHA mortgage insurance premium cut

    Estimates reduced MI premiums could bring in 40,000 new homebuyers
    The National Association of Realtors believes that the Trump administration’s recent decision to suspend a reduction in the Federal Housing Administration’s annual mortgage premiums will keep as many as 40,000 potential homebuyers from becoming actual homebuyers in 2017, and wants the premium cut reinstated “as soon as possible.”
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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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  • 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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  • Will Trump, Republicans overturn latest FHA mortgage insurance cut?

    Hensarling: Obama's "parting gift" puts FHA at risk of bailout
    While many in the housing industry appear pleased by the Department of Housing and Urban Development’s decision to cut Federal Housing Administration mortgage insurance premiums later this month, the real question is whether the cuts, announced by a Democratic administration in its last days, will survive under the new Republican administration.
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  • FHA cuts mortgage insurance premiums again

    "Most new mortgages" will see cut of 25 basis points in annual premiums
    When the FHA announced late last year that its flagship fund, the Mutual Mortgage Insurance Fund, grew for the fourth straight year, it led many to question whether we would see a cut to mortgage insurance premiums again. Now we have an answer.
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