Items Tagged with 'FHA'

ARTICLES

  • FHA: Life of loan policy to remain, but agency considering options

    FHA commissioner says agency has discussed changes to life of loan policy
    It looks like there won’t be any significant changes to the FHA's mortgage insurance program this year. Earlier this week, new FHA Commissioner Brian Montgomery told a group of reporters that there likely won’t be a cut to the FHA’s mortgage insurance premiums this year. And it appears that there won’t be any changes to the life of loan policy either.
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  • FHA commissioner: We’re easing False Claims Act use to bring big banks back to FHA lending

    FHA wants the big banks to come back
    In recent years, many of the nation’s largest lenders moved away from FHA lending, scared off by the government’s use of the False Claims Act as a means to extract massive settlements from lenders. But it appears that’s all about to change, as FHA Commissioner Brian Montgomery said Tuesday that he believes the Obama administration went too far in some cases and said that the Trump administration is dialing back the use of the False Claims Act to bring more lenders back into FHA lending.
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  • FHA commissioner: Mortgage insurance premium cut not likely in 2018

    Brian Montgomery says premium cut probably not happening this year
    The Federal Housing Administration broke a few hearts last year when it announced back in November that there would not be any cuts to its mortgage insurance premiums after its flagship insurance fund turned in a weaker-than-expected performance in fiscal year 2017. Those holding out hope for a cut to the FHA’s MI premiums this year should not be holding their breath, the FHA’s newly minted commissioner said Tuesday.
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  • Reverse mortgage volume falls to 13-year low

    Despite record levels of tappable home equity, program changes have squashed volume
    Reverse mortgage endorsements have dropped 15.5% in June from the previous month, hitting a low the industry hasn’t seen since 2005. To help turn things around, lenders in the space are working to innovate, creating private equity release products that might provide an answer to the industry’s problems.
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  • 174 Congress members pressure Carson to finalize FHA condo rules

    54 Senators and 120 House members are pushing Carson to finalize H.R. 3700
    Congress and industry players like NAR, teamed up to put pressure on Department of Housing and Urban Development Secretary Ben Carson to finalize the rules regarding condos and Federal Housing Administration loan approval. Fifty-four Senators and 120 house members sent a letter to HUD to hurry along the finalization of the rules in H.R. 3700.
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  • MBA: Mortgage applications increase 4.1%

    Interest rates continue to decrease
    Mortgage applications climbed in numbers, increasing 4.1% from last week. But this week’s results included an adjustment for the Memorial Day holiday. On an unadjusted basis, the index decreased 7% from last week.
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