Tag Archives: fha

Real estate industry welcomes FHA premium cuts, with caveats

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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 →

After 2-year ordeal, FHA borrowers can now buy private flood insurance

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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 →

Industry groups renew push for lower FHA mortgage premiums

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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 →

Real estate trade groups prod Biden to cut annual FHA premiums

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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 →

First-time homebuyers may be driving FHA, VA loan surge

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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 →

As rates rose, demand for mortgages dwindled every month in Q2

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Rising rates took their toll not only on refinancing but on homebuyer demand for purchase loans in June, according to an analysis of rate lock data released Monday by Black Knight. Continue reading →

Homebuyers are beginning to seek smaller mortgages as rates rise

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As demand picks up for government loans favored by entry-level buyers, the average purchase mortgage request has shrunk by 10 percent, to $413,500. Continue reading →

Polly integrated with all 6 primary mortgage insurers

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The ability to retrieve quotes from private mortgage insurers helps borrowers assess their options and streamlines the mortgage insurance process for lenders. Continue reading →

The million-dollar question: Do $1M Freddie Mac mortgages conflict with affordable housing mission?

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Redwood Trust, which issues jumbo loans that are off limits to Fannie and Freddie, says costlier markets are better served by private lenders. Continue reading →