With a new federal administration in charge, the MBA renewed its calls for reductions to FHA premiums. However, the Trump administration is unlikely to cut premiums.

The new policies were established days before the end of the Biden administration and won’t take effect until February 2026. The policies won praise from industry trade groups.

HUD gets acting secretary; FHA revises qualification requirements for single-family nonprofit program; exemption from hiring freeze excludes VA’s home loans program.

Better Mortgage launched the product as part of an effort by the lender to expand its government-insured mortgage originations.

FHA recently posted a draft mortgagee letter proposing revisions related to how it will handle partial claim document recording and payoff statements.

The Mortgage Bankers Association and the Housing Policy Council have called for specific changes to the proposed updates to FHA’s defect taxonomy for servicing loan reviews.

Under current rules, borrowers must apply for a 203(h) mortgage within one year of the President’s declaration of the disaster.

For the full year, $14.78 billion in home equity conversion mortgages were originated in 2023, down 50.2% from 2022. (Includes three data tables.)

The Mortgage Bankers Association this month asked FHA to consider using its single-family drafting table to seek comments from the industry before it finalizes guidance on its new payment supplement loss mitigation program.

The new rules come a month after FHA released a final rule eliminating the requirement that mortgage lenders register all branch offices where they conduct FHA business.