Archives For: FHA
FHA Adds 40-Year Mortgage Modification with Partial Claim to Home Retention Options for Struggling Borrowers
FHA has announced a 40-year mortgage modification available to servicers to help borrowers struggling with the effects of the pandemic.
18 Apr 2022
Ginnie Mae Streamlining Documentation Requirements
In an All-Participants Memorandum, Ginnie Mae issued streamlined documentation requirements for FHA advance loan modifications.
14 Feb 2022
Ginnie Mae Removes a Step for Servicers on some FHA Loan Modifications
New documentation requirements will allow companies to skip certain requirements when modifying mortgages insured by Ginnie Mae.
24 Jan 2022
FHA Expands Real-Estate Owned Property Purchase Opportunities for Owner-Occupant Buyers
The Federal Housing Administration (FHA) on Thursday announced it is increasing its exclusive listing period on certain HUD single-family real-estate owned (REO) homes to allow more time for owner occupants, HUD-approved nonprofit organizations, and governmental entities to submit bids for the purchase of these homes before they become eligible for purchase by investors.
13 Jan 2022
2022 FHA Loan Limits: Floor Rises to $420,680; Ceiling to $970,800
Similar to the FHFA, the U.S. Department of Housing and Urban Development (HUD) announces maximum loan limits each year for FHA loans.
Today, they unveiled the 2022 FHA loan limits, which like the 2022 conforming loan limits, will be significantly higher than the limits in effect this year.
1 Dec 2021
Flush with Capital, FHA Resists Call to Cut Insurance Premiums
Despite a 14-year high of 8.03% for the capital ratio of the agency’s mutual mortgage insurance fund — stoked by the recovery of the reverse mortgage program — the FHA did not signal immediate plans in its annual actuarial report to cut insurance premiums.
15 Nov 2021
Black Knight: Number of Mortgages in Forbearance Declines
Forbearance plan exit volumes increased week-over-week heading into November as the share of mortgage loans in forbearance fell below 2% for the first time since the early stages of the pandemic.
12 Nov 2021
With Biden’s FHA Nominee in Limbo, Mortgage Market Grows Restless
President Biden’s nominee to head the Federal Housing Administration is stuck in limbo as the Senate battles competing priorities, frustrating many in the mortgage industry who are concerned about a lack of leadership at a critical juncture for the agency.
12 Nov 2021
FHA Posts Draft HECM Program Sections of Handbook 4000.1
FHA recently posted the draft Home Equity Conversion Mortgage (HECM) Origination through Servicing sections of its Single Family Housing Policy Handbook 4000.1 (Handbook 4000.1) for stakeholder review and feedback. The draft sections are available online for industry feedback through Monday, November 15, 2021.
27 Oct 2021
HUD Issues ANPR on New Non-LIBOR Index Rate for ARMs
HUD issued an advanced notice of proposed rulemaking regarding adoption of a new index rate for FHA-insured adjustable rate mortgages (ARMs), as the previously-used London Interbank Offered Rate (LIBOR) is set to be discontinued.
21 Oct 2021