Housing Wire

FEBRUARY 23, 2024

Mortgage servicers, regulators and economists are closely watching the delinquency rates for Federal Housing Administration (FHA) loans following a spike in the fourth quarter of 2023. In some instances , homeowners have seen their insurance costs more than triple, but a new bill seeks to help them.

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Housing Wire

JULY 21, 2023

Lifting a ban on mortgage lenders providing down payment assistance (DPA) to Federal Housing Administration (FHA) borrowers would help underserved borrowers become homeowners, according to a paper published by the Urban Institute.

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Housing Wire

MARCH 14, 2024

The proposed class-action lawsuit brought by Florida resident Tricia Sarmiento claims that HUD has failed to issue refunds tied to MIP payments on mortgages backed by the Federal Housing Administration (FHA), and it has made the process of requesting a refund slow and complicated. million in unclaimed refunds.

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FHA loan Mortgages Loans Development 497

Housing Wire

SEPTEMBER 3, 2021

Before Hurricane Ida made landfall in New Orleans, many of the city’s lower-income homeowners were already struggling. That puts it behind only a handful of other cities in the country in delinquent share of loans. That puts it behind only a handful of other cities in the country in delinquent share of loans.

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Housing Wire

MARCH 25, 2021

Members of the mortgage insurance industry worked closely with federal policymakers, industry groups, and consumer organizations to support homeowners experiencing financial hardship due to the COVID-19 pandemic, according to Lindsey Johnson, the president of industry trade group U.S. The result was approximately $1.3 Mortgage Insurers.

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Housing Wire

DECEMBER 20, 2024

Sessions added that the bill takes a practical approach to deliver meaningful relief to homeowners. By addressing a key inequity in the FHA system, this bill rewards financial responsibility and empowers homeowners across the country. Mortgage insurance exists as protection from foreclosure on low equity loans.

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Housing Wire

OCTOBER 16, 2024

The locations of households that have received FHA-backed mortgages have been studied far less, HUD explained. If federal homeownership assistance programs follow national trends, we would expect FHA loans to be associated with whiter and lower-poverty census tracts.”

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FHA loan Equity Loans Mortgages 488

Housing Wire

APRIL 9, 2024

This is significant, because as noted in CHLA’s Annual IMB Report , “84% of FHA loans were for first-time homebuyers, and FHA’s share of Black and Hispanic borrowers was twice the percentage of all other mortgage loans.” But now a new threat is emerging on this front. All these homebuyer charges add up.

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Housing Wire

DECEMBER 28, 2023

Having already secured a mortgage with a sub-4% rate, homeowners were highly reluctant to sell their homes and move into another property. The so-called mortgage rate ‘lock-in’ effect gave homeowners an incentive to stay put, preventing more housing supply from reaching the market.

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Housing Wire

MAY 14, 2024

This is significant, because as noted in CHLA’s annual IMB Report , “84% of FHA loans were for first-time homebuyers, and FHA’s share of Black and Hispanic borrowers was twice the percentage of all other mortgage loans.” But now a new threat is emerging on this front. All these homebuyer charges add up.

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Housing Wire

NOVEMBER 15, 2023

However, “mortgage rates at current levels are still challenging for many prospective homebuyers and current homeowners,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement. The share of Federal Housing Administration (FHA) loan activity decreased to 14.4% of total applications, down from 9.8%

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Housing Wire

FEBRUARY 7, 2023

The duality of the Fed has resulted in a mortgage rate lockdown: homeowners with low mortgage rates aren’t motivated to sell when home prices are high and mortgage rates remain in the 6% range. Gano added that FHA loans seem “a little more workable” than the VA and USDA options.

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FHA loan Mortgages Loan Officer VA loan 397

Housing Wire

AUGUST 11, 2023

Buoyed by a resilient job market, homeowners are continuing to make their mortgage payments,” Marina Walsh, the MBA’s vice president of industry analysis, said in a statement. As the economy slows and [the] labor market cools, homeowners with FHA loans are likely to feel the distress first,” said Walsh.

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Housing Wire

MAY 5, 2021

It’s estimated that the options, intended to pave the way for lower-income borrowers who missed out on the massive refi wave in 2020, will save homeowners an additional $100 to $250 a month on their mortgage payments. The reality is that borrowers who are in this bracket likely have an FHA loan ,” Stevens said.

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Housing Wire

SEPTEMBER 21, 2020

Homeowners are benefitting from lower monthly payments, while lenders are struggling to manage high volumes – all during a time when their employees continue to work remotely, and many temporary origination flexibilities remain in place. Smaller balance loans, in many cases likely FHA loans, are impacted by the factors noted above.

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Housing Wire

MAY 4, 2021

The greater number of borrowers exiting forbearance right now also requires more labor from the servicers’ side given the Mortgage Bankers Association estimates 27% of exits since June of 2020 resulted in loan deferrals and partial claims. However, non–federally backed borrowers don’t all have the same policies.

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Housing Wire

FEBRUARY 27, 2024

Based in Las Vegas, Gatling has worked for companies such as Bank of America , MetLife Home Loans , Home Community Mortgage and Guild Mortgage , developing expertise in loans to underserved communities. This role offers me a platform to be more than just a loan officer,” Gatling said in a statement. were FHA loans.

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Housing Wire

DECEMBER 9, 2024

If 2024 was a rollercoaster, 2025 is shaping up to be a championship gameand every buyer , seller and homeowner has a shot at winning big. Heres your game plan: Check your credit: A score of 640 opens the door to FHA loans and down payment assistance programs. If youre in this group, 2025 could be your year.

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Housing Wire

APRIL 10, 2023

The Federal Housing Administration (FHA) loan share increased to more than 20% of the pipeline in March, up from 18% at the start of the year and 12% from a year ago. “A A cooling market lacking the multiple bids and all-cash offers of the recent past has made sellers more receptive to FHA offers. “A

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Housing Wire

AUGUST 19, 2021

Marina Walsh, vice president of industry analysis at the MBA, noted that the recovery is being driven by several factors “including improved employment and other economic conditions, the availability of home retention workout options after forbearance, and a strong housing market that is bringing additional alternatives to distressed homeowners.”.

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Housing Wire

JUNE 5, 2023

“We should see more purchase activity from existing homeowners once rates and/or home prices come down a bit. Until then the factors we see that will drive existing homeowners to purchase are life events and household formation changes,” Brok noted.

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Housing Wire

DECEMBER 15, 2021

Fewer homeowners have a strong incentive to refinance at current rates,” Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement. The trade group estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($548,250 or less) remained unchanged at 3.30%.

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Housing Wire

APRIL 11, 2023

“You can go out and get a bigger house now because you have higher borrower power at 3% down because your loan term has increased to 40 years.” The 40-year loan modification can assist borrowers in avoiding foreclosure by spreading the outstanding mortgage balance out over a longer period. “It’s not for new loans (…).

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FHA loan Mortgages Loans Development 397

Housing Wire

OCTOBER 14, 2022

“Lowering the MIP – with a focus on FHA’s recurring ‘annual’ premium – increases homebuyers’ purchasing power by reducing monthly payments and directly putting money into their pockets every month, giving them the opportunity to become homeowners and build generational wealth,” the MBA said in its letter to the NEC. “As

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Housing Wire

OCTOBER 23, 2020

Modernization means fewer hassles for lenders and potential homeowners and it translates into more efficiency in the origination process,” said Dana Wade, FHA commissioner. “We The FHA said its new AUS will be available in FHA Catalyst for single family forward mortgage programs on or after Oct.

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Housing Wire

NOVEMBER 21, 2022

Homeowners with the Federal Housing Administration -insured mortgage financing will now be allowed to obtain private flood insurance policies, expanding consumer options to protect borrowers from the country’s major natural disaster. . billion, did not have the required NFIP coverage.

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Housing Wire

MARCH 24, 2023

That figure increases the total number of GSE-assisted homeowners to 6,712,833 since the start of the conservatorship in September 2008, which placed control of Fannie and Freddie with the FHFA. According to the report, about 37% of the loan modifications completed in Q4 reduced borrowers’ monthly payments by at or over 20%.

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Housing Wire

FEBRUARY 16, 2023

Delinquency rates — which includes loans that are at least one payment past due but does not include loans in the foreclosure process — rose across all loan types and stages of delinquency. The FHA loan delinquency rate rose the most by a whopping 209 bps to 10.61% in the fourth quarter from the previous quarter.

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HomeLight

NOVEMBER 22, 2023

As you navigate the complex world of home loans, one term you might have come across is “assumable loan.” ” Specifically, FHA loans, known for their lower down payment and credit score requirements, often come into focus. But are these loans assumable? Are FHA loans assumable?

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Housing Wire

JANUARY 10, 2022

Today homeowners have a record amount of home equity wealth, and refinance originations will likely have a much larger cash-out share in 2022 than last year. During the refinance boom of the past two years, borrowers looking for a “rate-and-term” refinance dominated the market. 2022 should be a strong year for housing.

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Housing Wire

SEPTEMBER 22, 2023

For existing homeowners, that’s good news because it means equity accumulation. Kim: I notice a lot of independent mortgage banks roll out down payment assistance (DPA) programs for conventional loans. DPA programs were predominantly for FHA loans. Kim: DPA programs offered with FHA loans come with higher rates.

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Housing Wire

APRIL 13, 2021

Since December 2019, millions of homeowners have been able to save hundreds of dollars a month in mortgage payments by refinancing to record-low mortgage rates, often in the 2% range. Thanks to the Fed’s intervention to lower the cost of borrowing, many homeowners shaved 125 basis points or more on their mortgages over the past year.

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Housing Wire

MAY 31, 2023

However, the FHA’s proposal allows borrowers to keep their existing interest rate and reduce their monthly payments temporarily by using funds from the partial claim, which comes from the FHA mortgage premium. Homeowners then pay the FHA back when they sell their homes or refinance their loans.

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FHA loan Loans Principal Mortgages 397

Housing Wire

NOVEMBER 30, 2023

This is where down payment assistance programs can come into play, offering a lifeline to those aspiring to become homeowners. Examples of down payment assistance programs The FHA offers low down payment loans to first-time homebuyers. With an FHA loan , borrowers can put down as little as 3.5%

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FHA loan Loans Equity Mortgages 448

Housing Wire

JULY 20, 2023

With existing inventory still held back by homeowners, prospective buyers have turned to newly built homes instead. The average loan size decreased from $403,581 in May to $400,281 in June. Conventional loans accounted for 65.5% of loan applications.

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Housing Wire

JUNE 26, 2023

Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac completed 58,268 foreclosure prevention actions during the first quarter of 2023, raising the total number of homeowners who have been helped to 6,771,101 since the start of conservatorships in September 2008. The serious delinquency rate also decreased to 0.6%

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Housing Wire

NOVEMBER 13, 2020

I think the fact that homeowners are seeing so much equity appreciation is great for them. It’s also been great for the FHA. In October, the FHA extended its deadline for single-family homeowners to request forbearance through Dec. Approximately 7.95% of FHA loans were in some form of forbearance plan as of Nov.

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FHA loan Mortgages Loans Development 431