A decrease in applications for FHA loans popular with first-time homebuyers helped push the average purchase loan application to $432,700, according to the latest MBA lender survey. Continue reading
Mortgage loan servicers collecting payments on loans guaranteed by Fannie Mae and Freddie Mac completed 2.36 million “home retention actions” during the COVID-19 pandemic. Continue reading
Loan servicer Mr. Cooper is ‘deeply disappointed’ that the HUD OIG audit focused on problems it says were mostly technical, rather than on borrower outcomes. Continue reading
House lawmakers ask SEC not to hinder a system that private mortgage insurers have used to transfer nearly $68 billion in risk since 2015. Continue reading
A homebuyer taking out a $300,000 loan could end up overpaying by $1,200 a year — and even more if they’re in the market for a jumbo, FHA or VA mortgage, according to a new CFPB analysis. Continue reading
Cuts are expected to save borrowers $678 million a year but don’t apply to existing loans or release homeowners who have built up equity from “life-of-loan” requirements. Continue reading
The Department of Housing and Urban Development on Monday announced it had prevailed in expanding flood insurance choices for homebuyers with Federal Housing Administration-insured mortgages. Continue reading
The Black Homeownership Collaborative also asks HUD to ditch a “life of loan” requirement that forces homeowners to continue paying mortgage insurance premiums in perpetuity. Continue reading
The NAR, MBA and NAHB argue that the Federal Housing Administration is flush with cash, and that delinquency rates on FHA loans have returned to pre-pandemic lows. Continue reading
Applications for government-backed purchase mortgages were up 4 percent week over week, accounting for nearly 1 in 4 loan requests from homebuyers, according to the Mortgage Bankers Association. Continue reading