Tag: FHA

FHA Announces New Condo Approval Rule

Filed in Housing Finance by on August 16, 2019 0 Comments
FHA Announces New Condo Approval Rule

The Federal Housing Administration (FHA) this week published a final regulation that establishes a new condominium approval process.

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FHA Proposes Clarification for Lenders to Increase Program Participation

Filed in Housing Finance by on May 10, 2019 0 Comments
FHA Proposes Clarification for Lenders to Increase Program Participation

The Federal Housing Administration (FHA) announced on May 9 that it is proposing several revisions to its lender certification requirements with the goal of providing lenders and servicers greater certainty in how to satisfy the agency’s compliance requirements.

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Shutdown Impacts Multifamily Housing Programs

Filed in Capitol Hill, Multifamily by on January 7, 2019 1 Comment
Shutdown Impacts Multifamily Housing Programs

The partial government shutdown, now well into its third week, is having an impact on HUD multifamily programs, as the agency’s spending authority expired on Dec. 21, 2018.

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FHA Issues Final Rule Streamlining Home Warranty Requirements

Filed in Codes and Regulations, Housing Finance by on December 17, 2018 0 Comments
FHA Issues Final Rule Streamlining Home Warranty Requirements

The rule would eliminate the regulations that require borrowers to purchase 10-year protection plans in order to qualify for certain mortgages on newly-constructed single-family homes.

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FHA Capital Reserves Post Healthy Gain, but HUD Signals No Sign of a Premium Cut

Filed in Housing Finance by on November 15, 2018 0 Comments
FHA Capital Reserves Post Healthy Gain, but HUD Signals No Sign of a Premium Cut

The Federal Housing Administration (FHA) today released its annual report to Congress that shows the agency’s capital reserve ratio grew by more than $8 billion in fiscal 2018 to a total economic net worth of $34.86 billion. However, FHA Commissioner Brian Montgomery indicated it is still premature to consider a mortgage insurance premium cut in the near term.

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FHA Extends Multifamily Risk-Sharing Initiative Through Dec. 31

Filed in Housing Finance, Multifamily by on October 1, 2018 0 Comments
FHA Extends Multifamily Risk-Sharing Initiative Through Dec. 31

The Federal Housing Administration will extend its multifamily risk-sharing initiative with the Federal Financing Bank for eligible housing finance agencies through Dec. 31, 2018.

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FHA to Halt Insuring New Mortgages with PACE Obligations

Filed in Housing Finance by on December 8, 2017 1 Comment
FHA to Halt Insuring New Mortgages with PACE Obligations

On Dec. 7, the Federal Housing Administration (FHA) issued Mortgagee Letter 2017-18 announcing the agency will no longer insure new mortgages on properties that include Property Assessed Clean Energy (PACE) assessments. This reverses policy announced by the agency in July of 2016. The directive applies only to new mortgages.

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FHA Loan Limits to Rise in More than 3,000 Counties in 2018

Filed in Housing Finance by on December 7, 2017 1 Comment

The Federal Housing Administration today announced its loan limits for 2018. The nationwide rise in median home prices indicates buyers in more than 3,000 counties will see increases.

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FHA Capital Reserves Above Statutory Minimum for Third Straight Year

Filed in Housing Finance by on November 15, 2017 0 Comments
FHA Capital Reserves Above Statutory Minimum for Third Straight Year

The Federal Housing Administration (FHA) today released its annual report to Congress that shows the agency’s capital reserve ratio fell by $1.9 billion to a total economic net worth of $25.6 billion.

However, for the third straight year FHA’s reserve ratio has exceeded the congressionally mandated 2% threshold. FHA’s Mutual Mortgage insurance Fund now stands at 2.09% of the loans back stopped by the agency, vs. the 2.35% level from a year ago.

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New FHA Multifamily Mortgage Insurance Applications Halted in Texas Disaster Areas

Filed in Multifamily by on September 8, 2017 0 Comments
New FHA Multifamily Mortgage Insurance Applications Halted in Texas Disaster Areas

NAHB has learned that HUD has sent a directive to all of its multifamily regional center directors stating that effective immediately the agency will not accept new applications for FHA multifamily mortgage insurance in the counties impacted by Hurricane Harvey and designated as Presidentially Declared Disaster (PDD) areas.

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