The Mortgage Bankers Association has opposed the extension of the risk-sharing program, which provides capital to housing finance agencies that offer FHA loans for affordable multifamily rental properties.
Combined FHA/VA forward mortgage volume declined by 17.7% in the fourth quarter. For the full year, volume was down 19.9%. (Includes three data tables.)
With the new FHA payment supplement loss-mitigation option, servicers will be able to temporarily lower a delinquent borrower’s monthly payment by up to 25%, and up to 30% of the loan’s balance can be directed into a junior lien as a partial claim.
Ginnie Mae is also revising the financial eligibility requirements for FHA Title I issuers to help increase lender participation in securitization of the loans.
USDA plans revisions to its single-family housing loan guarantee program guide; HUD raises civil monetary penalties; USDA lowers interest rates for its direct loan program; NAIHC names new executive director; FHA and USDA offer training opportunities in March.
FHA is increasing the maximum loan limits for Title I manufactured housing to 15% above the average home price based on Census data for each given type of loan.
Department of Housing and Urban Development Chief of Staff Julienne Joseph this week provided an update on anticipated policy changes to the FHA single-family home loan program.