NASHVILLE—Presentations by government agencies at major events such as the Mortgage Bankers Association’s Annual Convention & Expo can be pretty staid affairs. Not so this year. On Monday, Ginnie Mae, the Federal Housing Finance Agency and FHA made one major announcement after the other, literally creating their own news cycle.
Tag: FHA
MBA, Black Homeownership Collaborative Urge HUD to Reduce FHA Mortgage Insurance Premiums
The Mortgage Bankers Association and several trade associations representing the Black Homeownership Collaborative sent a letter to HUD Secretary Marcia Fudge last week urging the Department to make meaningful reductions to the annual Mortgage Insurance Premium and suspend life-of-loan requirements for borrowers with FHA-insured loans.
HUD Updates Steps in Boosting Housing Supply
HUD last week announced a series of steps aimed at boosting housing supply, particularly in areas with minority borrowers.
HUD Updates Steps in Boosting Housing Supply
HUD last week announced a series of steps aimed at boosting housing supply, particularly in areas with minority borrowers.
FHA Expands Mortgage Eligibility for Borrowers Previously Affected by COVID-19
The Federal Housing Administration on Thursday expanded mortgage eligibility for borrowers who experienced a gap in employment and/or a reduction or loss of income due to a COVID-19 related economic event.
Senate Confirms Julia Gordon as FHA Commissioner
It took nearly a year, and by the slimmest of margins, the Senate late Wednesday finally confirmed Julia Gordon, as FHA Commissioner.
FHA Adds 40-Year Loan Modification with Partial Claim to COVID-19 Recovery Loss Mitigation Options
The Federal Housing Administration last week published Mortgagee Letter 2022-07, Update to the COVID-19 Recovery Loss Mitigation Options, which adds to FHA’s COVID-19 Recovery Loss Mitigation Options, a loan modification with a 40-year term used together with a partial claim.
MBA, Trade Groups Urge HUD to Issue ‘Clear Roadmap’ for Servicers in LIBOR Transition
As HUD considers changes to its index for FHA-insured adjustable-rate mortgages away from LIBOR, the Mortgage Bankers Association and other industry trade groups urged the Department to issue a clear roadmap for servicers of FHA-insured ARMs, including specification of a replacement comparable index or indices for existing mortgages, as well as guidance on communications with borrowers.
MBA Letter of Support for Grassley Amendment to False Claims Act
The Mortgage Bankers Association last week sent a letter to Sen. Charles Grassley, R-Iowa, in support of his amendment to a bill that would make changes to enforcement of the False Claims Act.
FHA Adds COVID-19 Forbearance Relief Options
The Federal Housing Administration on Sept. 27 announced new and extended COVID-19 relief options for borrowers recently or newly struggling to make their mortgage payments because of the pandemic and for senior homeowners with Home Equity Conversion Mortgages who need assistance to remain in their homes.