Tag Archives: FHA loans

MBA: Mortgage Applications Fell 14% in August

(Source: MBA) – MBA’s Builder Application Survey data for August 2013 showed that mortgage applications for new home purchases decreased by 14 percent relative to the previous month. This change did not include any adjustment for typical seasonal patterns.

Communities Achieving Sustainability Act to Help Revitalize Communities Affected by Foreclosure Crisis

(Source: Congressman Howard Buck McKeon) — This week, Congressman Howard “Buck” McKeon (R-CA 25) and Congressman Scott Peters (D- CA 52) introduced H.R. 1997, the Communities Achieving Sustainability Act (CASA). CASA Authorizes the Housing Urban Development (HUD) to make 203k loans to small investors for a 2-year period. This legislation will help revitalize communities (especially […]

Homebuyers Must Establish Plan for Delinquent Debt to Qualify for New Mortgage

(Source: By Tim Grant, Pittsburgh Post-Gazette) – Homebuyers who have debts that have gone into collection are not automatically disqualified from obtaining a mortgage through the Federal Housing Administration, but new rules will soon require those homebuyers to at least set up a payment plan for delinquent credit accounts before closing on a house.

Upcoming FHA Loss Mitigation Webinar Series

(Source: HUD) – The housing crisis has affected not only homeowners, but also Loan Servicers’ ability to meet the demands for Loss Mitigation intervention. HUD-FHA recognizes the increased demand for Loss Mitigation training, and is pleased to announce we are continuing to reach out to our servicing partners to provide additional support with our enhanced […]

FHA Training for December-January 2012

(Source: HUD) – Here are the dates for FHA mortgage training from HUD for the next couple months. December 14, 2011 – Real Estate Agent Workshop on EEM, 203k, and HomeFree Nevada Programs. 12:00 pm – 4:00 pm Pacific Time at the Reno Sparks Association of Realtors Classroom at 5650 Riggins Court Reno, NV 89502. […]

MBA Testifies on Health of FHA

(Source: MBA) – Henry V. Cunningham Jr., CMB, a member of the Mortgage Bankers Association’s (MBA) Board of Directors and immediate past Chairman of MBA’s Residential Board of Governors (RESBOG), testified today before the House Financial Services Committee at a hearing titled, “Perspectives on the Health of the FHA Single-family Insurance Fund.”

Home Builders Also Praise Congress for Restoring Higher FHA Loan Limits

WASHINGTON, D.C. – November 18, 2011 – (Source: NAHB) — The National Association of Home Builders (NAHB) today applauded Congress for reinstating for another two years the higher conforming loan limits for the Federal Housing Administration (FHA), noting that this is an important step to help mend the struggling housing market.

HUD’s Mortgagee Review Board FAQ’s Regarding Allied Home Mortgage Corp.

(Source: HUD) – On November 1, 2011, HUD’s Mortgagee Review Board suspended the FHA origination and underwriting approval of Allied Home Mortgage Corporation.  The below “Frequently Asked Questions” provide additional details regarding the implications of this action for consumers and lenders: FHA-Insured Loans Associated with Allied Home Mortgage Corporation Questions and Answers for Consumers: http://portal.hud.gov/hudportal/documents/huddoc?id=alliedconsumers110411.pdf […]