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
Available everywhere except New York, loanDepot’s new “accessZERO” program provides a down payment of up to 5 percent in the form of a 10-year fully amortized second mortgage. Continue reading
Policy change is intended to help more first-time homebuyers, seniors, and inter-generational families tap the wealth building potential of homeownership. Continue reading
Fannie Mae, Freddie Mac and the Federal Housing Administration outlined relief for homeowners as FEMA and the state of Hawaii rushed to provide emergency housing for displaced residents. Continue reading
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