Filed under FHA Articles, FHA Mortgage Articles, FHA news · Tagged: FHA Loan Blog, MBA
Finally there was some good news for FHA lenders. MBA announced today that both FHA and VA loan applications rose noticeably. refinance loan guidelines have seen some tightening of one of the most popular programs, the FHA streamline in which borrowers are no longer allowed to finance the closing costs. According to the FHA Loan Blog, “Many FHA lenders have said that this had hurt their FHA refinance business, but it appears the borrowers are still using FHA for refinancing transactions.” Read the original FHA Loan Blog Post > FHA Lenders See Rise for FHA Refinancing and Home Buying
Filed under FHA Articles, FHA FAQ, FHA Guidelines, FHA Mortgage Articles, FHA Mortgagee Letters, FHA news · Tagged:
Yesterday, the U.S. House of Representatives approved a bill to inject finances into the FHA by approving the authority to raise FHA mortgage insuance premiums. The FHA reserves are low and it created significant cash flow problems that the government was forced to deal with. It is no secret that Federal Housing Administration is strapped for cash because all of the recent FHA defaults that continue to mount. The government also considered a measure to raise the FHA mortgage limits used to develop some apartment buildings. In a 406-4 vote, lawmakers approved legislation to strengthen the finances that back the FHA home loans by giving it authority to nearly triple the annual fees it charges to borrowers, known as mortgage insurance premiums. Read the original article > House Approves FHA Bill to Reestablish Finances
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FHA has been in the news a lot lately. Yes, FHA mortgage rates are low, but the FHA mortgage program as a whole may be in jeopardy of existence. Many FHA blogs have posed the reality that FHA financing is at serious risk to be shut down. In this political climate it becomes obvious that anything is possible because Congress must pass bills to continue to fund the FHA mortgage programs. FHA first time home buyer loans have been promoting home ownership since the great depression. Even as we discuss their recent failures, the argument could be made that FHA is one of the most successful government initiative in the last century. Read the original article > Is FHA Mortgage Financing in Trouble?
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In a recent article, FHA Home Loan Refinancing posted an interesting perspective of FHA’s future. The FHA loan publisher considers the risks that FHA lenders pose in addition to each FHA loan program as well. The article reviews the following FHA programs: cash out refinance, FHA streamline, and the infamous, FHA home purchase product. They noted that the FHA Commissioner and HUD had tightened the FHA guidelines for the streamline by not allowing borrowers to finance the lender closing costs. When borrowers come out of pocket to pay their closing costs you can bet they are less likely to default on the loan. Read the original article online at > Are FHA Home Loan Programs at Risk?