From The News Archives: Fha Mortgages

Bank of America first to sign contract for HAMP second lien program

January 27, 2010 FHA Mortgages

Bank of America has announced that it has become the first mortgage servicer to formally commit to participating in the second-lien component of the government’s Home Affordable Modification Program.
While the final guidelines in dealing with second liens has yet to released by federal regulatory agencies, the Second Lien Modification Program will help to reduce monthly [...]

0 comments Read the full article →

FHA cracks down on lenders with revocation, suspension of approvals

January 26, 2010 FHA Mortgages

In an effort to step up their lending enforcement practices, the Federal Housing Administration’s Mortgage Review Board has permanently withdrawn FHA approval from three mortgage lenders and suspended a fourth one.
Strategic Mortgage Corporation was stripped of approval after failing to comply with employment requirements, charging excessive fees, and not disclosing all fees on their Good [...]

0 comments Read the full article →

MBA head issues guarded support of changes to FHA credit policies

January 23, 2010 FHA Mortgages

The Chairman of the Mortgage Bankers Association Robert E. Story expressed approval regarding recent adjustments by the Federal Housing Administration to its financial structure, albeit while adding that some of the changes may already be in effect.
"Borrowers may have to pay a little more for their FHA-insured mortgages or certain borrowers will have to put [...]

0 comments Read the full article →

FHA adjusts lending requirements to increase reserves, reduce risk

January 21, 2010 FHA Mortgages

In an attempt to increase the ways they manage risk while strengthening their capital reserves, the Federal Housing Administration has announced a set of policy changes that will help it continue to support the U.S. housing market.
According to FHA Commissioner David Stevens, the administration will institute changes that increase the mortgage insurance premium by 0.5 [...]

0 comments Read the full article →

New rule would mitigate risk by regulating FHA lenders

November 30, 2009 FHA Mortgages

The Federal Housing Administration announced on Monday that it is proposing a rule that would improve its certification process for FHA-approved lenders and regulate them more closely.
In its filing, the FHA said that a "mortgagee, by underwriting, servicing or owning a loan, is the most critical lending party to a mortgage transaction." As a result, [...]

0 comments Read the full article →

Home prices increase slightly, federal agency reports

November 30, 2009 FHA Mortgages

In a report last week, the Federal Housing Finance Agency said that homes appreciated in value in the third quarter of 2009 – the first quarter-on-quarter increase since 2007.
Edward J. DeMarco, acting director of the agency, said that the data provides "some evidence of short-term stabilization in housing prices, a likely result of the many [...]

0 comments Read the full article →

← Previous Entries