Remove Development Remove FHA loan Remove Principal
article thumbnail

FHA launches new partial claim payoff portal

Housing Wire

The Federal Housing Administration (FHA) announced on Thursday the launch of a new portal for the Department of Housing and Urban Development ’s Single Family Mortgage Asset Recovery Technology (SMART) system. I feel really good about where we are with FHA Catalyst,” she told HousingWire.

FHA loan 418
article thumbnail

Opinion: Rethinking the FHA mortgage insurance premium

Housing Wire

In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan.

FHA loan 397
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Nevada governor urges Biden to act on affordable housing

Housing Wire

Louis that compares the median home price in Nevada at the time Biden took office ($342,995) to the figure as of January 2024 ($460,000), and illustrated increases in monthly payment obligations for Federal Housing Administration (FHA) borrowers. Utilizing a 3.5% at the market interest rate of 2.82%,” Gov. Lombardo said in his letter.

FHA loan 459
article thumbnail

Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5%

VA loan 482
article thumbnail

Could the assumable mortgage level the playing field?

Housing Wire

. “The little that I’ve dabbled in assumable loans, they are very difficult to maneuver,” Rochelle Gano, a Vancouver, Washington-based loan officer at Movement Mortgage , told HousingWire. Gano added that FHA loans seem “a little more workable” than the VA and USDA options.

FHA loan 397
article thumbnail

Lakeview readies rare securitization backed by nonperforming mortgages

Housing Wire

million offering of nonperforming Federal Housing Administration (FHA) loans, closed this past July and was sponsored by Waterfall Victoria Master Fund, with Carrington Mortgage Services acting as the loan servicer, according to a separate KBRA ratings report. Department of Housing and Urban Development (HUD).

Mortgages 396
article thumbnail

FHA unveils proposal for a new partial claim option

Housing Wire

A partial claim is an interest-free loan from the U.S. Department of Housing and Urban Development ( HUD ) that borrowers can use to make their mortgage current. The remainder of the late payments are then added to the principal balance and extended for 30 years at a fixed rate.

FHA loan 397