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.
The average credit score for an FHA loan delivered into Ginnie Mae mortgage-backed securities increased in 2023, while average scores for VA loans didn’t budge. (Includes two data tables.)
Ginnie MBS issuance held steady in January compared with the previous month. Refinance volume ticked up and volume involving modified loans was down. FHA loans accounted for 62.9% of issuance. (Includes two data tables.)
The Community Home Lenders of America recently called for a single credit scoring process across conventional and government home loan programs. Spokespersons for FHA, VA this week said the agencies are considering a bi-merge credit scoring process.
The vast majority of FHA loans originated by both banks and nonbanks are securitized. Meanwhile, Banco Popular is retaining some of its FHA production in portfolio.
FHA insured about $17.1 billion in new loans under its hospital mortgage insurance program between fiscal years 2000 and 2022, the Government Accountability Office said in a new report.