Cap on servicer fees for FHA loan assumptions doubled to $1,800
Inman
MAY 22, 2024
While lenders welcomed the increase, it might benefit homebuyers as well, by giving loan servicers more incentive to process FHA loan assumptions quickly.
This site uses cookies to improve your experience. By viewing our content, you are accepting the use of cookies. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country we will assume you are from the United States. View our privacy policy and terms of use.
Inman
MAY 22, 2024
While lenders welcomed the increase, it might benefit homebuyers as well, by giving loan servicers more incentive to process FHA loan assumptions quickly.
Housing Wire
MARCH 14, 2024
Department of Housing and Urban Development (HUD) is being sued in federal court over accusations that it failed to refund nearly $385 million in mortgage insurance premiums (MIP) to borrowers over a period of more than two decades. More than 200,000 of these loans were terminated more than 20 years ago. million in unclaimed refunds.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Housing Wire
MAY 14, 2024
This is significant, because as noted in CHLA’s annual IMB Report , “84% of FHA loans were for first-time homebuyers, and FHA’s share of Black and Hispanic borrowers was twice the percentage of all other mortgage loans.” But now a new threat is emerging on this front.
Housing Wire
APRIL 9, 2024
This is significant, because as noted in CHLA’s Annual IMB Report , “84% of FHA loans were for first-time homebuyers, and FHA’s share of Black and Hispanic borrowers was twice the percentage of all other mortgage loans.” But now a new threat is emerging on this front.
Housing Wire
SEPTEMBER 14, 2023
When a lender rejects an FHA application, it discourages the next lender from even reviewing the application because of the extra work the underwriters have to do to override that MCR, mortgage pros told HousingWire. All FHA mortgage lenders use a system by the U.S. Demand for FHA loans have risen over the past year to comprise 23.8%
Housing Wire
FEBRUARY 27, 2024
Rebecca Anderson, senior vice president of strategic communications and public relations at loanDepot, wrote to HousingWire that the company “enjoys a long history of attracting and developing top-notch talent and “we thank Mosi for her many contributions to loanDepot and wish her the best in the next chapter of her career.”
Housing Wire
JANUARY 19, 2024
6, 2024,” Sherry Carson, human resources generalist at Country Club Mortgage, wrote in a letter sent to the Employment Development Department in California in early December. Last year, half of the originated loans were conventional, followed by 35% of FHA loans and 14% of V.A.
HomeLight
FEBRUARY 12, 2021
You’ve just received the first offer on your home — and it’s backed by an FHA loan. So what do you need to know about FHA loans as a seller? Today, FHA loans represent a fair share of the mortgage market; in 2018, the FHA insured 12.1% FHA loans help make homeownership more accessible.
Housing Wire
JUNE 1, 2022
The Community Home Lenders Association (CHLA), backed by 41 IMBs, sent a letter urging the FHA to streamline its servicing guidelines, increase permissible lender fees for executing an assumption of an FHA loan, and make changes to FHA’s condo rules.
Housing Wire
JANUARY 17, 2024
Department of Housing and Urban Development (HUD) Marcia Fudge suggested to a congressional committee that the department could consider eliminating life-of-loan premium requirements for mortgages backed by the Federal Housing Administration (FHA), but did not offer any indication about the issue’s priority level at HUD.
Housing Wire
FEBRUARY 7, 2023
. “The little that I’ve dabbled in assumable loans, they are very difficult to maneuver,” Rochelle Gano, a Vancouver, Washington-based loan officer at Movement Mortgage , told HousingWire. Gano added that FHA loans seem “a little more workable” than the VA and USDA options.
Housing Wire
NOVEMBER 7, 2023
In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5%
Housing Wire
APRIL 11, 2023
The Department of Housing and Urban Development (HUD) did not respond to HousingWire ’s request for comment on the spread of inaccurate information on the FHA’s 40-year loan modification decision prior to publishing. “Right now, a 30-year FHA loan for $500,000 at 6.7% “It’s not for new loans (…).
Realtor.com
AUGUST 1, 2018
Michail_Petrov-96/iStock A few years back, my husband and I got an FHA loan. had recently bought using a Federal Housing Administration loan, and it was working out wonderfully. An FHA loan—which allows the buyer to put down as little as 3.5%—sounded You can’t buy just any house with an FHA loan.
Housing Wire
NOVEMBER 2, 2021
In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan.
Housing Wire
APRIL 4, 2022
The spectacular and historic spike in interest rates will hurt most homebuyers, but one group is especially vulnerable: FHA borrowers. Over 80% percent of FHA purchasers are first-time homebuyers, and borrowers of color obtained over 40% of FHA loans last year, according to HUD.
Housing Wire
NOVEMBER 21, 2022
Department of Housing and Urban Development , through the FHA, announced on Monday that the change will go into effect on December 21, 2022. The final rule was published in the Federal Register and in a companion mortgagee letter that provides implementation guidance for FHA-approved lenders. .
Housing Wire
SEPTEMBER 27, 2022
The workforce reduction came from its Des Moines, Clive, Ankeny and West Des Moines offices, according to a WARN notice filed in the Iowa Workforce Development. More than 240 positions were eliminated from the Iowa offices this year and an additional 75 employees will be laid off in October, according to the Iowa Workforce Development. .
Housing Wire
MAY 4, 2021
The CFPB will continue to seek and actively respond to developments in the market, doing everything in our power to help families stay in their homes. The CFPB pointed out FHA loans in particular as having complications when borrowers attempted making a partial claim or modifying their loan to address forborne payments.
Housing Wire
JUNE 8, 2022
Unlike large lenders, which often have their own proprietary systems, it’s often not financially feasible for smaller firms to develop their own software. The CHLA also said independent mortgage banks now originate more than 60% of all mortgage loans and more than 90% of FHA loans, which disproportionately serves minority borrowers.
Housing Wire
OCTOBER 19, 2022
The IMBs originated 90% of FHA and VA loans and issued 90% of Ginnie Mae mortgage-backed security, the report said. In 2021, non-depository institutions accounted for 64% of first-lien, owner-occupied, site-built home-purchase loans. Department of Housing and Urban Development (HUD).
Housing Wire
MARCH 11, 2022
Last week, Fairway Independent Mortgage Corporation announced the hiring of Tane Cabe as its new reverse business development manager with a focus on Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business. So real estate agents automatically get nervous [about a HECM being] an FHA loan. Harlan Accola.
Housing Wire
MAY 13, 2021
By loan type, conventional loans backed by Fannie Mae and Freddie Mac took the lion’s share at 72.9% of loan applications, followed by just 15.8% of FHA loans, 10.3% from VA and 1% leftover for RHS/USDA loans.
Housing Wire
MARCH 15, 2024
Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule.
Housing Wire
MARCH 2, 2022
The serious delinquency rate in the Federal Housing Administration loan portfolio is now far less than its pandemic peak, and the Department of Housing and Urban Development said sustained improvement will factor in to whether it adjusts mortgage insurance premiums.
Housing Wire
NOVEMBER 15, 2022
Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) noted in a briefing on Tuesday that it managed to record another banner year for the Mutual Mortgage Insurance (MMI) Fund.
Realty Biz
FEBRUARY 28, 2023
Department of Housing and urban development Yes, we know. HUD housing is a program offered by the Department of HUD or Housing and Urban Development. HUD homes are foreclosed properties with an FHA-backed mortgage taken over by the US Department of Housing and Urban Development after a homeowner defaults on their loan payments.
Housing Wire
AUGUST 16, 2023
We know that 53% of those who had initial credit scores below 580 could improve their score enough to qualify for an FHA loan and 36% could qualify for a conventional loan. Through these tight partnerships, we are constantly developing and bringing new solutions to market.
Lab Coat Agents
FEBRUARY 7, 2023
FHA mortgage: A mortgage insured by the Federal Housing Administration (FHA) is a good option for first-time homebuyers and other borrowers with limited resources. The minimum down payment for an FHA loan is 3.5%. VA loans typically offer favorable terms, including no down payment or monthly mortgage insurance premiums.
HomeLight
SEPTEMBER 2, 2021
Here, we’ll walk you through one of the best-known and most widely utilized tools that can help get you those keys: the FHA loan. Read on for more about these loans, the down payment assistance programs associated with them, and some different down payment assistance programs to consider when you buy your first home.
Lab Coat Agents
MAY 21, 2024
Types of Assumable Mortgages There are three primary types of assumable mortgages: VA Loans: Backed by the U.S. Department of Veterans Affairs , these loans offer favorable terms and are available to eligible veterans and their spouses.
Realty Biz
OCTOBER 25, 2023
Century Health & Housing Capital (CHHC), an approved Federal Housing Administration (FHA) mortgagee and Government National Mortgage Association (GNMA) issuer/servicer, has selected LendingStandard, a software-driven platform specializing in the origination, underwriting, and processing of multifamily loans.
Realty Biz
MARCH 12, 2023
Preparing For an FHA Inspection Before your FHA loan can be approved, your buying home must be inspected and appraised. The FHA wants to ensure the home is worth the money you are willing to pay. Most people do not know there are FHA inspection requirements for appraisals.
Realty Biz
SEPTEMBER 30, 2023
Government-backed programs: Government-backed mortgage programs, such as FHA loans, VA loans, and USDA loans, often have more relaxed credit score requirements. Consider alternative mortgage options: If traditional mortgages don't work out, explore alternative options such as FHA loans, VA loans, or USDA loans.
Realty Biz
JULY 23, 2023
Understanding the available options can help navigate the loan process successfully. Government-backed loans for self-employed individuals Government-backed loans, such as FHA loans, VA loans, and USDA loans, provide viable mortgage options for self-employed individuals.
Realty Biz
JULY 20, 2022
The Federal Housing Administration regulates and backs the FHA Loans program. These government-insured loans allow home buyers low down payments of just 3.5%. Department of Housing and Urban Development funds down payment assistance programs in every state. Down Payment Assistance.
Housing Wire
SEPTEMBER 29, 2020
Will they be able to help borrowers construct FHA loans — which have been among those hit the hardest by COVID-19? But brand recognition doesn’t develop overnight. Will the people you’ve brought on to deal with this short-term swell be able to handle other types of business? Will they be able to convert leads to purchases?
Housing Wire
FEBRUARY 16, 2021
Department of Housing and Urban Development on Tuesday extended COVID-19 foreclosure and forbearance moratoriums for FHA and USDA loans to June 30, 2021. This announcement follows FHFA action last week to extend moratoriums for loans backed by Fannie Mae and Freddie Mac.
GeekEstate
FEBRUARY 14, 2024
Regulatory adjustments are now empowering real estate agents to enhance their service offerings, a development highlighted by the increasing permissibility of dual licensing in 45 states. This change, previously restricted with FHA loans, marks a pivotal moment. Thanks to Luca for sharing his story.
McKissock
MAY 6, 2022
McKissock’s Unlimited Learning Membership includes professional development tools like videos, checklists, and white papers. Department of Housing and Urban Development (HUD). Know your FHA, HUD, and USPAP requirements. Learn more. Be careful as you choose comparable sales. Source: SFH Handbook 4000.1 | HUD.gov / U.S.
Realtor.com
JULY 7, 2021
“As a result, a buyer’s market could develop in ZIP Codes with heavy exposure to such borrowers,” the researchers wrote, noting that these would be areas with a high concentration of FHA loans in delinquency. So which markets are most at risk? Atlanta tops the list, with 17.4% of the city’s mortgages in delinquency as of May.
McKissock
NOVEMBER 10, 2020
McKissock’s CE Plus Membership includes 500 professional development tools to help you get ahead in your real estate career. VA and FHA loans. Professional development opportunities. Here at McKissock Learning, we offer the most comprehensive library of real estate CE and professional development courses available.
Louisville Homes
MAY 3, 2021
FHA Loans are backed by the Federal Housing Association and provide mortgages to potential homeowners who have a lower credit score. Here are the requirements needed to qualify for an FHA Loan: Primary residence Debt-to-income (DTI) ratio < 43% FHA mortgage insurance premium FHA loan limits.
Expert insights. Personalized for you.
We have resent the email to
Are you sure you want to cancel your subscriptions?
Let's personalize your content