Items Tagged with 'FHA loan'

ARTICLES

  • FHA to stop insuring mortgages with PACE loans

    Trump administration reverses Obama policy
    Last year, the Obama administration announced that the Federal Housing Administration would begin insuring mortgages that also carry liens created by the PACE program. But that was last year. Things are much different now. In a stark reversal, FHA announced Thursday that it will no longer insure mortgages with PACE liens.
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  • Bill introduced to eliminate FHA life of loan insurance premium

    Rep. Maxine Waters authored bill; supported by NAR, CHLA, NAHREP
    Could the Federal Housing Administration’s life of loan insurance requirement soon be a thing of the past? Cutting the life of loan policy, which requires most FHA borrowers to maintain mortgage insurance throughout their entire loan term, is a change that many in the housing business have wanted for years, and now, eliminating that policy is officially on the table, thanks to a newly introduced bill in Congress.
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  • Carson: Government considering ending use of False Claims Act against FHA lenders

    Tells Congress that administration is discussing “ridiculous” rise of FCA charges
    The government’s proclivity to use the False Claims Act as a weapon against mortgage lenders could soon be coming to an end, Department of Housing and Urban Development Secretary Ben Carson told members of Congress on Thursday. "We’re committed to getting that resolved, because it’s ridiculous, quite frankly,” Carson said of the rise of the False Claims Act.
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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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  • Franklin First Financial fined $1.25 million for FHA loan violations

    Allegedly concealed default rates by paying borrowers’ mortgages for them
    Franklin First Financial is set to join a list of mortgage lenders that settled with the Department of Justice for violating Federal Housing Administration lending standards, but unlike Wells Fargo, Walter Investment, and a host of others, Franklin First isn’t settling allegations. Rather, the government accused Franklin First of paying borrowers mortgages to keep them from defaulting, thereby concealing the lender’s default rates.
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