Hispanics are becoming homeowners at a quicker rate than other ethnic or racial groups, and they’re buying at a younger age on average, a trend that looks set to continue.
The quality control processes of two FHA lenders affected review sample sizes, risk evaluations and reviews of loans that experience early payment defaults.
FHA lending looks to be continuing uninterrupted amid recent staff cuts at HUD, though there are concerns about operations and oversight going forward.
FHA walked back appraisal policies introduced during the Biden administration that had aimed to counter the effects of discrimination in property valuations.
The HUD Office of Inspector General said Carrington and MidFirst improperly set FHA foreclosures in motion for borrowers who were still under review, and ultimately qualified for loss-mitigation options, placing unnecessary hardship on the borrowers and creating risks for HUD.