News Topic: FHA
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Policing issues overtake housing at hearing for HUD, FHA nominees
Biden nominates Julia Gordon to be FHA commissioner
FHA eases path to homeownership for borrowers with student debt
FHA will not cut premiums amid rising delinquencies
HUD should put entry-level homebuyers first, not special interest groups
The reduction currently under consideration by the Biden Administration would lead to even faster home price appreciation, especially in areas with moderate FHA presence, American Enterprise Institute’s Housing Director of Research Tobias Peter says. ... Read full article
Biden administration likely to cut FHA premiums despite credit risks
Though the pandemic recession has driven up the delinquency rate on Federal Housing Administration loans, the president's appointees are widely expected to reduce mortgage insurance premiums by at least 25 basis points to make home loans less ... Read full article
HUD nominee pledges to promote affordable housing, work with Congress
Marcia Fudge told senators that her first priority as secretary would be to assist renters and homeowners struggling financially due to the COVID-19 pandemic. ... Read full article
FHA's capital buoyed by house price appreciation despite higher defaults
The Federal Housing Administration said in its annual actuarial report that capital reserve ratio on its mutual mortgage insurance fund increased to 6.10% in fiscal year 2020, up from 4.84% a year earlier. ... Read full article
CFPB missed opportunity to call out lending discrimination, critics say
The agency’s report on mortgage data submitted by lenders identified persistent disparities between white borrowers and minorities in denial rates and pricing. Some observers say the bureau should have been more explicit as the nation wrestles with ... Read full article
Midland States in Illinois to sell FHA origination platform
The company said the sale will provide more consistent financial results and allow it to redeploy funds to support other businesses. ... Read full article
Agencies extend freeze on foreclosures and evictions to end of year
Both the Federal Housing Finance Agency and Federal Housing Administration are extending relief for homeowners and renters due to the pandemic crisis. ... Read full article
‘I’m a budget nerd’: How new FHA chief is confronting pandemic
Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers. ... Read full article
Housing groups seek change to FHA loan restriction on student debt
An industry coalition wants to ensure borrowers who took out certain types of loans to fund their education aren’t locked out of access to historically low mortgage rates. ... Read full article
Lenders shouldn't waver on monitoring early payment defaults
The key word is "temporary" with the FHA's quality control waiver expiring and not likely to be renewed. ... Read full article
Senate confirms Wade as FHA commissioner
The housing agency's prior permanent chief, Brian Montgomery, left the position after he was tapped to become deputy HUD secretary. ... Read full article
Democratic bills would bar GSEs from charging forbearance fees
Fannie Mae and Freddie Mac have imposed heavy price adjustments for loans that were granted relief under the pandemic relief law enacted in March. ... Read full article
Wells Fargo buys $14B of delinquent mortgages tied to pandemic
The amount far surpassed that of any other servicer required to purchase Ginnie Mae-backed loans that were 90 days past due. ... Read full article
Supreme Court ruling eliminates autodialer use for FHA, VA collections
The court struck down a 2015 update to the Telephone Consumer Protection Act, which permitted robocalls to cell phones for government-related debt collection. ... Read full article
Federal housing agencies extend foreclosure moratorium to Aug. 31
The FHFA and FHA both announced for the second time that they were delaying the freeze to protect borrowers and renters during the coronavirus pandemic. ... Read full article
