Category: FHA

New FHA Policy Provides Foreclosure Alternative on Reverse Mortgages

FHA, Foreclosure, Foreclosures, HECM, Reverse Mortgage
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DSNews  BY:   Brian Honea January 29, 2015 A new policy issued by the Federal Housing Administration (FHA) on Thursday under its Home Equity Conversion Mortgage (HECM) Program will allow reverse mortgage lenders to delay calling HECMs from a surviving non-borrowing spouse following the death of the last surviving borrower. Such a delay on collection […]

Watt Insists 3 Percent Down Payment Loans Are Not Riskier Than Those With Lower LTVs

Fannie Mae, FHA, Freddie Mac, GSE, Loans
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DSNews  By: Author: Brian Honea January 27, 2015 Federal Housing Finance Director (FHFA) Mel Watt, testifying before the House Financial Services Committee, which he once sat on as a Democratic U.S. Representative for North Carolina, insisted that mortgage loans with a 3 percent down payment backed by GSEs are no more riskier than those with a […]

Report Predicts Big Year for Housing in 2015 Based on Recent Government Actions

Economy, Fannie Mae, FHA, Freddie Mac, Homeownership, Housing Market, Loans, Mortgage Insurance Premiums
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DSNews:  Author: Tory Barringer January 12, 2015 With 2015 less than two weeks underway, Fitch Ratings is the latest forecaster predicting great things for housing in the coming year. However, unlike other commentators, whose projections were based on encouraging market trends, the ratings agency says it’s a combination of recent government actions that reinforces its […]

Updated: President Announces Reduction in FHA Premiums

FHA, Mortgage Insurance Premiums
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DSNews   Author: Tory Barringer January 7, 2015 The White House announced Wednesday that the Federal Housing Administration (FHA) will reduce mortgage insurance premiums in an effort to boost U.S. homeownership. Bloomberg first reported Wednesday that FHA will cut its mortgage insurance premiums to 0.85 percent, a 0.5 percentage point reduction. President Obama was expected to make […]

FHA to Reduce Mortgage Insurance Premiums by 0.5 Percent

Economy, FHA, Homeownership, Mortgage Insurance Premiums, Uncategorized
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National Mortgage Professionals – BY: Phil Hall, January 7, 2015 In advance of President Obama’s speech tomorrow in Arizona on housing policy, the White House has issued confirmation that the Administration is directing the Federal Housing Administration (FHA) to cut the annual mortgage insurance premium from 1.35 percent to 0.85 percent. The White House is billing this […]

Survey: Nearly 70 Percent of Industry Professionals See Lower Down Payment As Positive

FHA, FHFA, Homeownership, Mortgage
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DSNews    Author: Brian Honea December 11, 2014 The majority of mortgage industry professionals said they believed that the lowering of the down payment to 3 percent for first-time home buyers by Fannie Mae and Freddie Mac was a step in the right direction for the housing market, according to Collingwood Group‘s November 2014 Mortgage Industry […]

FHA Program Aims to Expand Credit; Lower Risk

Credit, delinquency, FHA, Mortgage, Uncategorized
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DSNews    BY:  Colin Robins    May 13, 2014 The Federal Housing Administration (FHA) issued its “Blueprint for Access,” which aims to expand credit access for underserved borrowers by utilizing housing counseling as a means to reduce the possibility of loans becoming seriously delinquent. The announcement highlights a new pilot program, Homeowners Armed with Knowledge (HAWK), which […]

Housing Recovery Unmoved by Rising Interest Rates

FHA, Freddie Mac, Housing Market, Mortgage Rates
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DSNews     BY:  KRISTA FRANKS-BROCK   January 23, 2014 Mortgage rates may be rising, but the housing market doesn’t seem to mind. In fact, several indicators have improved alongside rising rates, according to the HousingPulse Tracking Survey released by Campbell Surveys and Inside Mortgage Finance this week. The lending atmosphere is becoming friendlier, especially to first-time buyers. Simultaneously, the average […]