FHA to Limit Cash-Out Refinances
Noting that FHA endorsements with cash-out refinances have more than tripled since 2013, the Federal Housing Administration moved to reduce the maximum loan-to-value ratio on a cash-out refi mortgage from 85% to 80%.
Browsing: Refinances
Lawmakers Raise Concerns About Tax Transcript Issue
A bipartisan group of lawmakers — led by Rep. Gregory Meeks (D-N.Y.) and including House Ways and Means Committee Chairman Kevin Brady (R-Texas) — wrote to the Internal Revenue Service yesterday to express concerns about recent changes to the IRS’ tax transcript processing system that could result in significant delays for consumers when attempting to purchase or refinance a home.
Associations Call on IRS to Fix Tax Transcript Issue
In a comment letter with nine trade associations on Friday, ABA urged the IRS to take immediate steps to fix problems with the tax transcript process that could result in significant delays for consumers attempting to purchase or refinance a home.
HARP Extended through 2018 as Changes Made to High-LTV Refi Program
The Federal Housing Finance Agency today extended the Home Affordable Refinance Program through Dec. 31, 2018.
FHFA: HARP Refinances Down as Rates Climb
More than 510,000 borrowers refinanced their Fannie Mae or Freddie Mac mortgage loans in the first quarter, with 13,425 refinanced through the Home Affordable Refinance Program, the Federal Housing Finance Agency said today.
FHFA Releases Fannie, Freddie Progress Report
The Federal Housing Finance Agency today released a progress report on its goals for Fannie Mae and Freddie Mac while the GSEs are in federal conservatorship.
FHFA: HARP Refinances Continue to Decline
More than 626,000 borrowers refinanced their Fannie Mae or Freddie Mac mortgage loans in the third quarter, with 15,597 refinanced through the Home Affordable Refinance Program, the Federal Housing Finance Agency said yesterday.
GSEs to Offer New High-LTV Refi Option, Extend HARP
Mortgage borrowers with high loan-to-value ratios will soon have a new refinance option through Fannie Mae and Freddie Mac, the Federal Housing Finance Agency announced today.
FHFA’s Watt Signals Decision Soon on Principal Reduction
The Federal Housing Finance Agency will announce within the next month whether it will implement a limited principal reduction program for underwater borrowers with mortgages backed by Fannie Mae and Freddie Mac, FHFA Director Mel Watt said today.