Tag Archives: fha

Audits find fault with help provided to FHA borrowers during pandemic

By | | Uncategorized
Comments Off on Audits find fault with help provided to FHA borrowers during pandemic

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 →

Private mortgage insurers have friends in high places

By | | Uncategorized
Comments Off on Private mortgage insurers have friends in high places

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 →

Mortgage rate gap among lenders wider than previously understood

By | | Uncategorized
Comments Off on Mortgage rate gap among lenders wider than previously understood

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 →

Real estate industry welcomes FHA premium cuts, with caveats

By | | Uncategorized
Comments Off on Real estate industry welcomes FHA premium cuts, with caveats

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

By | | Uncategorized
Comments Off on After 2-year ordeal, FHA borrowers can now buy private flood insurance

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

By | | Uncategorized
Comments Off on Industry groups renew push for lower FHA mortgage premiums

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

By | | Uncategorized
Comments Off on Real estate trade groups prod Biden to cut annual FHA premiums

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

By | | Uncategorized
Comments Off on First-time homebuyers may be driving FHA, VA loan surge

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

By | | Uncategorized
Comments Off on As rates rose, demand for mortgages dwindled every month in Q2

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

By | | Uncategorized
Comments Off on Homebuyers are beginning to seek smaller mortgages as rates rise

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 →