Tag: FHA

FHA’s MMIF Capital Reserves Climb in Fiscal 2020

Filed in Advocacy, Housing Finance by on November 13, 2020 0 Comments
FHA’s MMIF Capital Reserves Climb in Fiscal 2020

The Federal Housing Administration (FHA) today released its annual report to Congress that shows the agency’s capital reserve ratio of its Mutual Mortgage Insurance Fund (MMI Fund) ended the fiscal year at 6.10% — an increase of 1.26 percentage points over the fiscal 2019. This is well above the congressionally mandated 2.0% capital ratio.

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FHA Updates New Construction Financing Requirements

Filed in Advocacy, Housing Finance by on October 22, 2020 0 Comments
FHA Updates New Construction Financing Requirements

The Federal Housing Administration (FHA) today published Mortgagee Letter (ML) 2020-36, FHA New Construction Requirements. This guidance updates the requirements for new construction financing for Title II Single Family forward mortgages in alignment with the regulatory amendments announced in the 2018 final rules that streamlined inspection and warranty requirements.

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FHA Extends Appraisal Program Through Aug. 31

Filed in Housing Finance by on June 30, 2020 0 Comments
FHA Extends Appraisal Program Through Aug. 31

The Federal Housing Administration (FHA) has announced it will allow exterior-only and desktop appraisals on FHA single-family programs affected by COVID-19 to be extended through Aug. 31.

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FHFA and FHA Extend Foreclosure and Eviction Moratoriums Through August

Filed in Disaster Response, Economics, Housing Finance by on June 17, 2020 7 Comments
FHFA and FHA Extend Foreclosure and Eviction Moratoriums Through August

The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac will extend their moratorium on single-family foreclosures and evictions until at least Aug. 31, 2020.  The foreclosure and eviction moratorium applies to Fannie Mae and Freddie Mac-backed single-family mortgages only. The Federal Housing Administration is also extending its foreclosure and eviction moratorium through the end of August for home owners with FHA-insured single-family mortgages.

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HUD Secretary Carson Updates NAHB Members on COVID-19 Housing Response

Filed in Disaster Response, Membership, Multifamily by on April 28, 2020 1 Comment
HUD Secretary Carson Updates NAHB Members on COVID-19 Housing Response

In an exclusive webinar for NAHB members, U.S. Housing and Urban Development Secretary Ben Carson and Federal Housing Commissioner Brian Montgomery today outlined specific measures the agency has implemented to battle the COVID-19 pandemic and lauded the efforts of NAHB during this outbreak.

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HUD Issues Guidance on Multifamily Mortgage Forbearance Under the CARES Act

Filed in Codes and Standards, Housing Finance, Multifamily by on April 14, 2020 0 Comments
HUD Issues Guidance on Multifamily Mortgage Forbearance Under the CARES Act

HUD has released two letters to provide guidance to borrowers and lenders during the COVID-19 pandemic. The first letter provides guidance for implementing the CARES Act multifamily mortgage forbearance provisions for FHA-insured multifamily loans. The second letter is a separate guidance to mitigate risks for FHA insured Section 223(f) refinancing loans.

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HUD Issues Mortgage Relief for FHA Single-Family Home Owners

HUD Issues Mortgage Relief for FHA Single-Family Home Owners

Effective April 1 for borrowers with a financial hardship that makes them unable to pay their mortgage due to the outbreak, mortgage servicers must extend deferred or reduced mortgage payment options — called forbearance — for up to six months, and must provide an additional six months of forbearance if requested by the borrower.

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FHA Announces Policy Updates Related to COVID-19

Filed in Housing Finance by on March 30, 2020 0 Comments
FHA Announces Policy Updates Related to COVID-19

The Federal Housing Administration has announced new guidance for property appraisals and other policy updates due to the COVID-19 national emergency declared by the president.

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FHA Loan Limits to Rise in 2020

Filed in Housing Finance by on December 4, 2019 2 Comments
FHA Loan Limits to Rise in 2020

The Federal Housing Administration (FHA) has announced its loan limits for 2020. The nationwide rise in median home prices indicates most buyers across the country will see increases.

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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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