The Consumer Federation of America said buyers using FHA loans often face stigma when buying a home and cannot use many competitive strategies that are common to conventional and cash buyers.
New FHA home equity conversion mortgage endorsements increased 10.8% from the first quarter to the second. Year-to-date, though, volume was down from the first six months of 2023. (Includes three data tables.)
The trade group urged the Department of Housing and Urban Development to roll back the minimum debt service coverage ratio and raise the maximum loan-to-cost ratios for FHA’s multifamily loan program.
Originations increased across mortgage products in the second quarter. The conventional-conforming sector’s market share held steady while government-insured lending lost some share. (Includes data tables.)