(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.
(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 […]
(Source: HUD) – Has your company attended FHA Loss Mitigation training yet? FHA has online webinar and “live” opportunities for training. Please see the below schedule of courses: Live FHA Loss Mitigation training classes around the Nation:
(Source: Wayne Faulkner Star-News, Wilmington, N.C. (MCT) — The FHA may change strict rules that have made condo purchases ineligible for low-down-payment, insured mortgages, writes real estate columnist Kenneth Harney.
(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.
(Source: By Pamela Yip The Dallas Morning News (MCT) – A new rule established by the Federal Housing Administration should give consumers another reason to pay their bills on time.
(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 […]
(Source: By Kimberly Miller, The Palm Beach Post, Fla.) — Florida homebuyers will be able to purchase flipped properties with FHA loans through next year as federal officials try to speed the resale of foreclosed and abandoned homes.
(Source; HUD) – In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Acting Federal Housing Administration (FHA) Commissioner Carol J. Galante will extend FHA’s temporary waiver of the anti-flipping regulations.
(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. […]
(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.”
(Source: Record, The; Bergen County, N.J. By KATHLEEN LYNN) – President Obama on Friday signed a bill that allows the Federal Housing Administration to back mortgages of up to $729,500, six weeks after the limit dropped to $625,500. The move makes it easier for more buyers to get low-interest FHA loans.
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.
(SOURCE: National Association of Realtors) – The National Association of Realtors(R) commends Congress for reinstating the loan limit formula and maximum cap for Federal Housing Administration-insured loans for two years.
WASHINGTON (Source: Associated Press/AP Online By ALAN FRAM) – Congressional bargainers have agreed to increase the size of mortgages insured by the Federal Housing Administration in a compromise being hailed by the housing industry but criticized by conservatives.
MILFORD, Conn., Nov. 10, 2011 (SOURCE Total Mortgage Protection) – The following is a statement from John Walsh, President of Total Mortgage Services:
(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 […]
(Source: CalHFA) – This Bulletin expands upon Program Bulletin #2011-23 dated October 7, 2011. As noted in that Bulletin, CalHFA FHA loans must be purchased by our master servicer, Bank of America N.A., on or before December 15 or 30, 2011 (see Program Bulletin #2011-23 for details).
Oct. 05 (Source: By Paul Owers, Sun Sentinel, Fort Lauderdale, Fla.) – New Federal Housing Administration loan limits kicked in Saturday nationwide, meaning some buyers who want FHA-back mortgages won’t be able to get as much house.
Oct. 02 (Source: By Eric Wolff, North County Times, Escondido, Calif.) – Potential buyers of a small group of expensive homes lost access to cheap government-backed financing Saturday, when the maximum amount of an eligible loan fell.