The Mortgagee Review Board, which monitors FHA-approved lenders for bad practices to preserve the quality of the FHA program, is not up to the task of monitoring the increasingly busy sector, according to a recent report from the Department of Housing and Urban Development’s Office...
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After weeks of speculation, the Department of Housing and Urban Development released the final details of its program allowing FHA borrowers to take advantage of the $8,000 first-time homebuyer tax credit. Unlike original speculation, the credit cannot be used as a...
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Shifting to a focus on FHA lending was no easy task for Lend America, but company officials say they saw the change as the best option when storm clouds began gathering over the subprime conventional market in 2005. While New York-based Lend America – the company’s legal name is...
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The delinquency rate of FHA loans reached the highest mark ever in the Mortgage Bankers Association’s quarterly delinquency survey in the first quarter, mirroring the trends in the overall mortgage market. The MBA reported that 7.37 percent of FHA loans were seriously delinquent...
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The latest data and projections indicate continuing trouble ahead for the more recently securitized FHA product, this time from an analysis by a team at Barclays Capital. “Data suggest that the 2006-08 production of Ginnie Mae coupons should continue to default at a fast pace as a...
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The supply of FHA-insured conforming jumbo mortgages flowing into the capital markets continued to decline in early 2009 as high-cost housing markets came under increased stress. Ginnie issued just $1.21 billion...
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The Department of Housing and Urban Development’s investigation into alleged violations of the Real Estate Settlement Procedures Act by Long & Foster, the former employer of FHA commissioner nominee David...
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Department of Housing and Urban Development Secretary Shaun Donovan said he is open to suggestions on how HUD can effectively establish higher FHA loan limits for high-cost submarkets. Congress gave HUD the authority to adjust limits where prices are “significantly higher”...
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FHA single-family endorsements climbed to $29.92 billion in April, a record for the program, according to a new analysis and ranking by Inside FHA Lending. April’s volume was up 6 percent from March and topped the program’s previous monthly record, $29.80 billion, set...
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