Congress is moving quickly on separate initiatives to raise FHA loan limits and make improvements to the HOPE for Homeowners FHA refinance program. House and Senate conferees appear to have a reached a compromise on an economic stimulus bill that includes temporary higher...
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The mortgage market has become almost exclusively an agency lending business, and the FHA is increasingly taking a bigger share from its two conventional market rivals, Fannie Mae and Freddie Mac. FHA market share set another new high in the fourth quarter, reaching 30.8 percent...
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Critics who say the FHA has become the new subprime mortgage program have got it all wrong, a top agency official said this week. Although FHA lending volume has been booming over the past year, the quality of new business is consistent with the program’s existing portfolio, said... [Includes one graph]
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Two of the nation’s biggest lenders, Wells Fargo and Taylor, Bean & Whitaker, both recently raised borrower requirements on government-backed mortgages in a move industry experts say indicates a shift in the fundamentals of that sector. Wells increased the minimum...
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More FHA loans were serviced by lenders that ranked in the agency’s top servicing tier, and more lenders earned that distinction, according to an analysis by Inside FHA Lending. At the end of September 2008, 66.4 percent of FHA lenders were graded in the agency’s top performance tier...
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Mortgage brokers are flocking to the FHA program but finding that the transition is no easy task. According to John Councilman, federal housing chair at the National Association of Mortgage Brokers, brokers looking to do FHA business are forced to overcome numerous hurdles in...
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New production of FHA-insured home equity conversion mortgages increased slightly in 2008 at a time when the overall FHA market was booming. A total of $24.38 billion of FHA reverse mortgages were originated in 2008, based on the maximum claim amount the government will pay...
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The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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