A coalition of seven housing interest groups including the Mortgage Bankers Association (MBA), the Community Home Lenders of America (CHLA), the National Association of Realtors (NAR) and the National Reverse Mortgage Lenders Association (NRMLA) have […]
The Mortgage Bankers Association (MBA) and the National Mortgage Servicing Association (NMSA) are expressing their views on a recently revised Federal Housing Administration (FHA) loss mitigation proposal, stating that it needs additional adjustments to effectively […]
CBC Mortgage Agency – a federally chartered housing finance agency – will offer two temporary rate buydown features for its down payment assistance (DPA) program for Federal Housing Administration (FHA) loans. The agency is the […]
The latest baseline increase in conforming loan limits has enabled loan originator Dave Krichmar’s client to make a 5% down payment instead of 10%. The self-employed homebuyer found an $800,000 home in Texas, but with […]
The Federal Housing Administration (FHA) is seeking industry feedback on its proposed changes to its 203(k) Rehabilitation Mortgage Insurance Program. The 203(k) program is designed to help borrowers purchase a home or refinance an existing […]
Nine months after requesting input from the industry, the Federal Housing Administration (FHA) issued a proposal on Wednesday to enhance its rehabilitation program. The updates include increases in the maximum rehabilitation costs for the program’s limited version, […]
The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2024 to $498,257 and $1,149,825, respectively, the FHA announced Tuesday. The new FHA loan limits apply to forward mortgages for […]
The Federal Housing Administration (FHA) has increased the allowable property inspection fee limits for property inspections of single-family homes associated with defaulted FHA-insured mortgages. The inspections are used in a servicer’s preservation and protection of […]
The Federal Housing Administration (FHA) is seeking industry feedback on a proposed update to its Home Equity Conversion Mortgage (HECM) assignment claims eligibility policy. Under current program requirements, mortgage servicers can assign a HECM to […]
The Federal Housing Administration (FHA) announced this week that it has implemented updated appraisal requirements for the valuation of manufactured homes certified under Fannie Mae’s MH Advantage and Freddie Mac’s CHOICEHome programs. The updates, detailed […]
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