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Inside FHA/VA Lending

April 8, 2011

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Government Shutdown Would Hit FHA

The potential shutdown of the federal government at the end of this week could have sudden and detrimental effects on FHA borrowers and lenders, although the situation was still very much in flux as Friday’s midnight deadline rapidly approached. “This is the worst time to introduce this uncertainty into... Read More

Industry Wary of QRMs’ Impact on FHA

Congress explicitly exempted FHA and Department of Veterans Affairs loans from the definition of “qualified residential mortgage” in the Dodd-Frank Wall Street Reform and Consumer Protection Act. While those government loans will not be subject to the risk-retention requirements for mortgage securitizations, the proposed QRM safe harbor for... [Includes one graph] Read More

FHA Chief Risk Officer Takes Over as Acting Commissioner

FHA Chief Risk Officer Bob Ryan took over as acting commissioner last week, replacing David Stevens, who left the program to serve as president and CEO of the Mortgage Bankers Association. Ryan joined the FHA in October 2009 as Stevens pushed to reduce the program’s risk and shore up its... Read More

More FHA Legislation, Reform Coming

The package of government-sponsored enterprise reform legislation introduced into the House Financial Services Committee last week dominated headlines, but sources on Capitol Hill said forthcoming legislation will also aim to tighten FHA underwriting in some manner, continuing to protect the program’s... Read More

FHA Lending Hits Three-Year Low in Early 2011

Originations of FHA-insured mortgages declined in early 2011, and February’s total was the lowest in nearly three years. Overall mortgage market lending dropped in the fourth quarter last year, and the industry is in the throes of reforming the system while trying to urge back the private sector. The $15.0 billion in... [Includes one data chart and one graph] Read More

Premium Changes Impacting FHA Business

All FHA-insured mortgages made after April 18 will face higher annual premiums, the latest fee structure change in a series of adjustments over the past year. Early indications from Department of Housing and Urban Development data show that the measures have begun to accomplish both of the agency’s goals – to shore up... Read More

FHA PowerSaver Loan Requirements Finalized

The Department of Housing and Urban Development made several changes to the final regulations of its PowerSaver program to make the initiative more beneficial for both lenders and borrowers, the agency announced in a notice published in the March 31 Federal Register. The PowerSaver program offers... Read More

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