At the National Association of Hispanic Real Estate Professionals conference this week, FHA Commissioner Julia Gordon said FHA financing becomes increasingly important as interest rates rise.

President Biden’s fiscal year 2025 budget request includes a proposal for mortgage tax credits for first-time homebuyers as well as those who sell starter homes.

VA lenders can now apply an assumption locality variance on loan assumptions. The MBA called for an even higher fee.

President Joe Biden last week proposed a mortgage tax credit of $400 a month for up to two years to help borrowers buy their first homes.

FHA Commissioner Julia Gordon said FHA loans don’t take longer to close than other loans.

Servicers can begin offering the new option May 1, but must make it available by Jan. 1, 2025.

The revisions would increase the maximum allowable rehabilitation costs for a limited loan, update the rehab period for both standard and limited loans, and allow higher fees for program consultants.

FHA Commissioner Julia Gordon said 2024 is all about execution.

FHA Commissioner Julia Gordon this week returned to her hometown of Philadelphia to address attendees at the Mortgage Bankers Association’s annual convention.

FHA finalized a rule revising its rental income policies and property eligibility requirements for loans for properties with accessory dwelling units.