Republican Proposal to Lower High-Cost Loan Limit Will Curtail Availability of FHA Loans, Eliminate FHA ‘Floor’
June 2, 2011
There would be fewer FHA-insured mortgage loans originated in more than 20 percent of U.S. counties if the current FHA loan limits were allowed to revert to limits set by the Housing and Eco-nomic Recovery Act, the Department of Housing and Urban Development warned. Evaluating FHA-insured mortgage loans originated in 2010 and 2011 to date that had loan sizes exceeding the HERA limits, HUD found that approximately $14.2 billion, or about 6 percent, would not have been endorsed had HERA restrictions been in place at the time. While 669 counties would likely...
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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