Endorsements of FHA-insured home equity conversion mortgages picked up in the second quarter, but not enough to combat the slide year-over-year. (Includes three data tables.)
FHA might hand the industry an item on its wish list, according to a proposal that floated adopting the property condition and quality rating scales used by the government-sponsored enterprises.
Jones nominated for FHA commissioner; odds low for FHA mortgage insurance premium cut; FHA terminates DE for some lenders; HUD plans HECM sale; fee hike planned for Section 184 program.
Industry groups urged FHA to flesh out and update the disclosures for VA mortgages that will be added to FHA mortgage applications as a result of Congress’ new housing law.
Many large FHA lenders were consistently more lenient or stringent in their acceptance of applications over an eight-year period studied in a pair of new working papers.
If borrowers of VA loans only paid refinance fees in cash or by rolling the fees into the interest rate, it would more accurately reflect the annual percentage rate of the new mortgage, thus reducing refis where the benefit is razor-thin, according to the Urban Institute.