Cart

Inside FHA/VA Lending

January 22, 2010

View Archived Issues

FHA Hikes Annual Fee, Not Downpayment

FHA Commissioner Dave Stevens announced highly anticipated changes to the FHA program this week, continuing the push toward tighter underwriting, alignment with the private mortgage market and increased scrutiny of participating lenders. But one of the biggest surprises was that no change was made to the minimum downpayment that most FHA borrowers will be required to bring to the closing table... Read More

HUD IG Subpoenas 15 Lenders With High Defaults

The Department of Housing and Urban Development’s new leadership continued its campaign against bad lending practices, as the agency last week launched a new investigation into 15 companies with high problem loan rates. HUD Inspector General Kenneth Donohue and FHA Commissioner David Stevens said subpoenas were served to 15 mortgage lenders demanding documents and data related to failed loans which... Read More

HUD Suspends Anti-Flipping Rule to Permit REOs

The Department of Housing and Urban Development announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. The policy change will permit buyers to use FHA financing to purchase HUD-owned properties, real estate-owned properties, or distressed properties sold through private sales, which recent research shows is the primary target of... Read More

Tozer to be Confirmed as Ginnie President

The Obama administration’s nominee to be the next president of Ginnie Mae, Theodore Tozer, told lawmakers of his general plans to confront the agency’s problems, and sources indicate that he will be confirmed soon to take the helm. Tozer, a former official at National City Mortgage, follows on the path of FHA Commissioner Dave Stevens as leaders of government housing agencies with backgrounds in the... Read More

H4H Finally Reaches 1,000 Applications

The Department of Housing and Urban Development last week issued an interim rule that implements a number of changes to the FHA HOPE for Homeowners program authorized by Congress last year. The program got off to a terrible start, refinancing just a single loan in the first year, but 35 loans have been endorsed as of this week and HUD has received 1,000 applications, an agency spokesman said. Among the key... Read More

New HUD CFO to be Confirmed

Douglas Criscitello, the Obama administration’s nominee for chief financial officer at the Department of Housing and Urban Development, testified before the Senate Committee on Banking, Housing and Urban Affairs this week and is expected to be confirmed. Criscitello previously worked at the Small Business Administration, the Office of Management and Budget, the Congressional Budget Office, and JPMorgan... Read More

Latest Imf News

More Imf News

Featured Data

More Featured Data

Featured Reports

More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results