Citing rising credit risk in its single-family loan portfolio, the Federal Housing Administration this month reintroduced manual underwriting requirements for single-family mortgages with credit scores under 620 and debt-to-income ratios exceeding 43 percent.
With the government shutdown entering its third week, mortgage lending and servicing operations are being affected.
The maximum conforming loan limits for mortgages the Federal Housing Administration will insure will increase in 2019, the agency said today
The Federal Housing Administration’s Mutual Mortgage Insurance Fund reached a capital ratio of 2.76 percent, exceeding its minimum statutory requirement of 2 percent, according to the FHA’s 2018 annual report to Congress.
The Federal Housing Administration released guidance to issuers of FHA-insured reverse mortgages today stating that the agency may require a second appraisal when a risk assessment does not support the figure reached by the first appraisal.
The Senate yesterday voted to confirm Brian Montgomery as head of the Federal Housing Administration.
The Federal Housing Administration today announced a new option that allows FHA-insured homeowners whose homes were damaged by recent natural disasters to remain in their homes, and also reduces losses that would otherwise negatively affect FHA’s mutual mortgage insurance fund.
The number of home loans backed by Fannie Mae and Freddie Mac that are 60 days or more past due or are in the foreclosure process ticked up in the third quarter of 2017.
The maximum conforming loan limits for mortgages the Federal Housing Administration will insure will increase in 2018, the agency said today.
The Federal Housing Administration’s reverse mortgage program continues to cause significant drag on the FHA’s mortgage insurance fund, the agency said today.