Private mortgage insurers are hoping to head off another FHA premium cut, like the 35 percent reduction approved last year by the Biden administration that’s project to save homebuyers $5.1 billion over 10 years. Continue reading
Having just slashed annual mortgage insurance premiums on new FHA loans by 35 percent in March, and with total insurance in force growing faster than reserves, HUD officials show no signs of giving in to long-standing industry demands. Continue reading
Lending industry groups like the Mortgage Bankers Association called a fee based on borrower’s debt-to-income ratio “unworkable.” Continue reading
Industry groups continue to object to a new Fannie and Freddie fee aimed at some riskier borrowers as a burden on lenders and consumers. Continue reading
Regulators order mortgage giants to eliminate upfront fees on many purchase loans in order to help first-time homebuyers of limited means, the Federal Housing Finance Agency announced Monday. Continue reading
The Department of Veterans Affairs allows desktop appraisals when borrowers put 20 percent down, but nearly 90 percent of VA-backed loans are made to homebuyers who put nothing down. Continue reading