Items Tagged with 'FHA LOANS'

ARTICLES

  • Live Well Financial shutters origination operations

    Says it will no longer fund new forward or reverse mortgage loans
    Live Well Financial has ceased originating loans, the company announced on its website Friday. The homepage message said only that it would not be originating new loans as of May 3, 2019, "due to unexpected circumstances," a surprise move that took some wholesale partners by surprise.
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  • HUD delays new rule on FHA down payment assistance in response to lawsuit

    Halts implementation to review claims of "unlawful destruction" by Native American group
    The Department of Housing and Urban Development announced Wednesday that it was delaying the implementation of new rules regarding down payment assistance for loans backed by the Federal Housing Administration in response to a lawsuit filed by a Utah-based Native American band, which claimed that the mortgagee letter "unlawfully targets American Indian tribes."
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  • FHA says as many as 50,000 mortgages will be affected by new lending rules

    4-5% of FHA borrowers may no longer qualify
    Two weeks ago, the FHA took steps to limit risk to its single-family portfolio, announcing that it will flag some loans for manual underwriting. FHA's Chief Risk Officer Keith Becker told the WSJ just how many loans the agency thinks will be affected, adding that the FHA "felt that it was appropriate to take some steps to mitigate the risks we're seeing."
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  • Latest FHA shift to mitigate risks may shut out some homebuyers

    Recent changes to TOTAL Mortgage Scorecard have some lenders worrying they won't close
    Last week, the Federal Housing Administration took steps to mitigate risks to its single-family portfolio, announcing updates to its TOTAL Mortgage Scorecard that may flag some loans for manual underwriting. Chatter among members of the lending community suggests a number of originators are unhappy about the changes, fearing that the end result may be that some of their borrowers will be shut out of FHA financing.
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  • More homeowners are taking cash-out refis on government loans

    Borrowers with fewer alternatives are cashing in their equity
    While overall refinance activity is down, cash-out refis are up – and while true across the board, the trend is glaringly apparent among government-backed loans. Of all refinances on government-backed loans offered by the FHA and the VA, 76% were cash-outs – the highest share on record.
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  • This is where seasoned LOs see the biggest opportunity

    Survey reveals trends and challenges impacting mortgage origination
    Most mortgage originators are worried that loan production expenses will increase while volume will decline, and they’ve pinpointed five areas of the market they think present the most opportunity in the year ahead. Here's what they said.
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