Under the modified policy, FHA decreased the minimum loan balance threshold at which a mortgagee can submit the assignment request for a home equity conversion mortgage.

There were roughly half a million fewer new listings in the first four months of this year than in the first four months of 2019, a year before the pandemic.

Remarks included concerns regarding the costs of complying with FHA’s proposed revision to minimum property standards for flood hazard exposure.

FHA is taking feedback through April 27 on a draft mortgagee letter proposing the use of rental income from accessory dwelling units to calculate borrowers’ eligibility for a home loan.

FHA said the amount of rental income from the accessory dwelling unit used to determine income may not exceed 30% of the total income used to qualify the borrower.

FHA is taking comments through April 27 on a draft mortgagee letter meant to spur more affordable mortgage financing for properties with accessory dwelling units.

FHA finalized a permanent stand-alone 40-year loan modification option for distressed borrowers.

The FHA rule is effective May 8...

FHA is cutting annual mortgage insurance premiums, effective March 20. Lenders are seeking operational clarity on loans already in the origination pipeline.

Federal housing agencies will continue to collaborate on loss-mitigation options following their teamwork when responding to the COVID-19 pandemic.