The Week Ahead: Housing Policy and the State of the Union Address DSNews by: Brian Honea January 10, 2016 Here’s a look at the news and events that will shape housing and mortgage finance in the week ahead for DS News. On Tuesday, January 12, President Barack Obama will deliver his eighth and final […]
Tag: FHA
FHA Revises Reverse Mortgage Program to Protect Non-Borrowing Spouses From Foreclosure
DSNews By: Brian Honea June 15, 2015 The Federal Housing Administration (FHA) on Friday announced revisions to its Home Equity Conversion Mortgage (HECM) program that will allow FHA-approved lenders to offer more options to eligible surviving non-borrowing spouses. The revisions announced Friday allow for the deferral of due and payable status for reverse mortgages, hence […]
New FHA Policy Provides Foreclosure Alternative on Reverse Mortgages
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
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
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
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 […]
Survey: Nearly 70 Percent of Industry Professionals See Lower Down Payment As Positive
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
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 […]
HUD Defines Two Types of Qualified Mortgages
DSNews: By: Howard Goldthwaite 12/13/13 HUD has issued a newly revised definition for Qualified Mortgage (QM) which will affect all Federal Housing Administration (FHA) loans moving forward. The new rule goes into effect January 10, 2014, and will apply to mortgages that are insured, guaranteed, or administered through HUD. http://tinyurl.com/mvl34jg
FHA to Take First Ever Bailout from DSNews, By: Tori Barringer
The Federal Housing Administration (FHA) will be accepting a bailout of more than $1 billion to make up for losses sustained from the agency’s legacy books and its reverse mortgage program. Following reports last week that FHA’s financial situation would require a Treasury draw in the neighborhood of the Obama administration’s $943 million forecast, Commissioner Carol Galante revealed in […]
