The figures are not adjusted for seasonal factors, and FHA/VA default rates often trend lower in the first quarter. FHA home equity conversion mortgages are not included in the data.
Trade groups are asking HUD to eliminate the FHA certifications entirely or replace them with language indicating a lender acknowledges key FHA requirements based on loan eligibility.
The House approved bills that would reduce FHA upfront premium payments by 25 basis points and correct a drafting error that rendered certain VA loans ineligible for pooling in Ginnie Mae MBS.
Like many other governmental housing agencies, CBC provides downpayment assistance through the Chenoa Fund to first-time homebuyers seeking to purchase a home with FHA financing.