The Department of Housing and Urban Development has changed the way it calculates the floor price for properties sold at foreclosure sales under its claims without conveyance of title program, but maintained that servicers must pay more than total debt owed in some instances.
The Department of Housing and Urban Development has cut the height to which builders are required to raise a bottom floor above the 100-year flood level, saving money for builders, but likely not building owners.
Industry participants responded positively to the Department of Housing and Urban Development’s proposal to set the FHA mortgage insurance premiums to 0.25% for all multifamily loans.
Industry and veteran organizations said pending legislation that would authorize the Department of Veterans Affairs to create a partial claims program isn’t enough to close VA’s gap with other government-backed programs.
FHA eliminated restrictions placed on new construction in flood hazard areas and pulled back additional inspection requirements for properties in disaster areas.
Serious delinquencies among government-backed loans have slightly increased each year since the pandemic, according to an analysis by the Mortgage Industry Advisory Corp.
FHA’s loss-mitigation programs have historically saved the mutual mortgage insurance fund billions by avoiding dispositions, according to a new analysis.
FHA borrowers are more likely to have student loans than other types of mortgage holders, exposing them to the upcoming changes to student loan repayment plans.
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